On 20 July 2023, the Austrian National Council passed a significant increase in penalties for the violation of business and trade secrets. This was necessary due to a significant increase in secrecy violations.
Business and trade secrets are information of high commercial value. Therefore, business and trade secrets are usually protected by comprehensive confidentiality agreements.
Author
Nesrin Yildirim
BrowsingNesrin Yildirim is a junior associate in Baker McKenzie’s Public Procurement Practice Group in Vienna and joined the Firm in January 2023. Prior to joining Baker McKenzie, she worked at an Austrian firm as legal administrator and completed her legal clerkship at various courts in Austria. She completed her master's degree at the Vienna University of Economics and Business and gained valuable experience in a renowned law firm in Istanbul.