Commercial secret definition

Commercial secret means a regime of information confidentiality enabling its possessor under the existing or the probable conditions to increase revenues, to avoid unjustified outlays, to retain the position on the market of commodities, works and services, or to derive another commercial benefit;

Commercial secret means technical, technological, commercial or organisational information belonging to the undertaking and not disclosed publicly, the confidentiality of which is protected by the undertaking, except for information that cannot be considered a commercial secret under the laws of the Republic of Lithuania.

Commercial secret means technical, technological, commercial or organisational information belonging to the undertaking and not disclosed publicly, the confidentiality of which is protected by the undertaking, except for information that cannot be considered a commercial secret under the laws of the Republic of Lithuania. Duty of Public and Local Authorities to Ensure Freedom of Fair Competition 4.—(1) When carrying out the assigned tasks related to the regulation of economic activity within the Republic of Lithuania, public and local authorities shall ensure freedom of fair competition.(2) Public and local authorities shall be prohibited from adopting legal acts or other decisions which grant privileges to or discriminate against any individual undertakings or their groups and which bring about or may bring about differences in the conditions of competition for competitors in the relevant market, except where the difference in the conditions of competition cannot be avoided when the requirements of the laws of the Republic of Lithuania are complied with.

Examples of Commercial secret in a sentence

• Commercial secret – information on a plan, formula, process, or means of a commercial value, or any other information used for manufacturing, preparing, processing of goods or rendering services, and/or is a novelty or a significant result of technical activity, as well as other information that may prejudice the competitiveness of a person if disclosed.

• Commercial secret shall be the information (except for public information defined by laws of the Republic of Lithuania) to which the status of commercial secret is assigned by decision of the Board of the Company.

• Commercial secret means any information concerning the plan, formula, process, or means that constitute a commercial value, or any other information that is used to produce, prepare, or reproduce goods, or provide service, and/or which represents an innovation or a significant technical accomplishment, or any other information, disclosure of which could reasonably be expected to cause competitive harm to a person.

• Commercial secret shall be declared open if the grounds for classifying such information can no longer be invoked.

• Commercial secret is any and all information (except the public information provided by the Law of the Republic of Lithuania), to which such status is granted upon the decision of the Board.

• Commercial secret implies information which is not state secret, pertaining to production, technologies, administration, financial activity and other activity carried out by the economic agent, the disclosure of which (communication, leakage) may prove injurious to the economic agent’s interests.

• Commercial secret disclosure implies intentional or unintentional actions carried out by the employees of the economic agent who have access to the information constituting commercial secret, which lead to premature disclosure, usage and uncontrolled dissemination of information.

• Commercial secret may not be a reason to refuse provision of documents and information.(2) The documents and information under paragraph 1 shall be determined in the Methodology under Art.

• The documents to be supplied to the bodies specified underParts 1 and 3 of this Article and containing information constituting a commercial secret shall bear a "Commercial secret" stamp, indicating its holder (in case of legal entities - full denomination and location, in case of individual entrepreneurs - surname, first name, patronymic of the citizen being an individual entrepreneur and place of residence).

• Notes /1/ Xxxxxxxxxx, X.X., Xxxxxxxxxx, X.X., Xxxxxxx, A.M., & Xxxxxxxxxxx, N.M. (2018), Commercial secret as an object of labour relations: Foreign and international experience.

More Definitions of Commercial secret

Commercial secret means information which has a genuine or potential commercial value by virtue of the fact that it is not known to third parties and it cannot be freely accessed because of reasonable efforts on the part of the proprietor of that information or any other person to whom it has been entrusted to keep it secret. Information that cannot be considered a commercial (industrial) secret is defined by law.

Commercial secret means non-disclosed technical, technological, commercial, or organisational information belonging to a person who is taking certain measures in order to protect its confidentiality, except information which cannot be deemed a commercial secret in accordance with the laws of the Republic of Lithuania.