In Bulgaria, the Trade Secrets Protection Act governs the safeguarding of confidential information. The Act defines trade secrets as information not generally known or easily accessible, possessing commercial value, and subject to reasonable confidentiality measures.
Employee Breaches: Legal Consequences
If an employee breaches their obligation to protect their employer’s trade secrets, legal action can be taken. This includes pursuing civil damages and criminal penalties.
To prevent breaches, employers may require employees to sign non-disclosure agreements (NDAs) prohibiting the disclosure of confidential information to third parties.
NDAs may also contain non-compete clauses, restricting employees from working for competitors for a defined period.
Additional Protective Measures for Employers
Employers can implement various measures to protect trade secrets and confidential information. Limiting employee access to confidential information on a “Need-to-know” basis, utilizing passwords and encryption for electronic data, and monitoring employee use of company computers are effective strategies.
Consequences of Breach: Civil Liability and Injunctive Relief
In the event of a breach, employees may face serious legal consequences, including civil liability for damages and criminal penalties. Employers can seek injunctive relief to prevent further disclosure of confidential information.
What Eurofast can do for you
Eurofast, with extensive experience in international business and legal matters, offers expert guidance on trade secret protection in Bulgaria. Our team understands the nuances of local legislation and provides tailored solutions to safeguard your business interests. For further inquiries, please contact sofia@eurofast.eu.
Eurofast Sofia Editing Team
Eurofast Sofia
sofia@eurofast.eu