Trade Secrets are an important part of the world of trade and business competition. There are several innovative parties that are reluctant to explain the process or how-to of their innovation. That, of course, is an innovator’s right that must be protected by the state. The existence of clear legal protection regarding Trade Secrets will increase innovation and foster business competition. Such innovation and business competition will be instrumental in helping advance national development.
Before this regulation was passed, there were a number of regulations that discussed Trade Secrets, but there was no centralized or unified regulation that provided a clearer picture and protection.
This law, which was passed on December 20, 2000, was presented on the basis of the demands for regulation regarding Trade Secrets. These demands exist as a result of the ratification of the Agreement Establishing The World Trade Organization which includes the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) through Law Number 7 of 1994. At the time this regulation was formed, the Constitution 1945, Law No. 7 of 1994 and Law No. 5 of 1999 are taken into account.