One of Chile’s most recent IP law updates, signed in 2005, covers trade and industrial secrets, and technically compels employees to protect the confidentiality of industrial secrets.
Nevertheless, the scope of what qualifies as an “industrial secret” remains ambiguous, and consequently the law is widely regarded as confusing and weak by international standards. There is movement within Chile to improve the law, but we recommend that you not rely on existing law only – or, for that matter, any future law – to protect your trade secrets.
Instead, be sure to sign non-disclosure agreements (NDAs) with relevant employees and partners, and seek legal advice on how best to protect your trade secrets.
We include a NDA template in the LegalFácil book of Contracts for Doing Business in Chile.