Trade secrets as such are not recognized as an intellectual property asset in Austria, even though their protection is ensured by general statutory acts. Further protection was implemented into the Unfair Competition Act (Gesetz gegen den unlauteren Wettbewerb) in 2018, mostly based on EU-Directive 2016/943.
Trade secrets are defined as information that is
- secret, in the sense that it is not known or readily accessible by persons that normally deal with the kind of information in question,
- of commercial value because it is secret, and
- subject to reasonable steps to be kept
All 3 requirements are necessary for a trade secret. Reasonable steps may include specific IT-security measure, making secret information only accessible to certain trustworthy employees and non-disclosure agreements.
A variety of information may be considered a trade secret according to the definition above. This includes rights which may be already protected (eg, inventions and designs) as well as otherwise unprotected information such as production processes, customer data, business models, big data analysis and market development data.