Furthermore, according to Law No. 30 of 2000 concerning Trade Secrets, the owner of Trade Secrets has the right to use their own Trade Secrets, license, or prohibit other parties from using Trade Secrets or disclosing Trade Secrets to third parties for commercial purposes. Trade Secrets rights can be transferred by inheritance, grant, written agreement, or other causes justified by laws and regulations.
The owner has the right to grant a license to another party based on a license agreement to carry out legal actions such as using his own Trade Secrets, granting a license to or prohibiting other parties from using Trade Secrets, or disclosing the Trade Secrets to third parties for commercial purposes. The Trade Secrets right holder or licensee can sue anyone who deliberately and without right commits an act of using his Trade Secrets in the form of a compensation claim and/or termination of all acts of using the Trade Secrets of another party.
Moreover, it is possible for a company to transfer and commercialize its Trade Secrets. The development of Trade Secrets protection is necessary to provide recognition of intellectual property rights and the right to or within a certain period of time to exploit the commercialization or enjoy the property itself. Therefore, not everyone can use and commercialize the Trade Secrets’ rights without the permission of the owner of the Trade Secrets.
In the context of trade which aims to commercialize ownership of Trade Secrets, business actors who intend to develop their business internationally can be carried out through international trade through export-import, licensing, franchising, forming a joint venture company, or making a foreign direct investment with total ownership or through mergers, consolidations or acquisitions. Licensing means giving the licensee the license to use the Trade Secrets for commercial purposes by the owner of the Trade Secrets.
