The sitting was attended by Minister of Education and Science Prof. Dr Zarko Obradovic and the Director of the Intellectual Property Office Branka Totic.

Minister Obradovic said that the business secret issue was regulated by different laws regulating distinct areas and the Bill represents a uniform framework law on the protection of business secrets from disloyal competition. A business secret represents any confidential information of commercial value. The Bill promotes fair market competition, encourages research activities and innovation, as well as attracts foreign investors as it also complies with the rules of the World Trade Organisation, said Minister Obradovic. The Minister said that a public hearing took place during the drafting of the Bill and the suggestions made in the debate were incorporated in the text of the Bill.

The Committee unanimously adopted the Bill on Protection of Business Secrets, in principle.

The sitting was chaired by Committee Chairman Srboljub Zivanovic.