Shortly after the expiry of the 9 June 2018 deadline, the Hungarian parliament has finally adopted the new act on the protection of trade secrets (“Trade Secrets Act”) which will transpose the Trade Secrets Directive EU 2016/943 into national law.

If the necessary preparatory measures are taken, the new act will ensure more effective protection of the intellectual capital of the companies. Among others, it is also beneficial for start-ups which generally lack the required funds to register their intellectual property. Overall, the improved legal protection will support innovation, help the knowledge transfer, and enhance the competitiveness of Hungarian businesses.