China has been actively exploring blockchain for intellectual property protection and is now considering an application to secure trade secrets. If the concept moves forward, Shanghai may soon launch a pilot in the Lingang New Area free trade zone.
Peng Mei News reported the details of the planned project were shared by Yang Jianfeng, a deputy director of the Shanghai People’s Procuratorate, equivalent to a Deputy Attorney General.
Trade secrets are loosely described as any confidential business information which is not known in common circles. It may include source code, prototypes, designs, business plans, product formulas and others. For example, Coca-Cola’s formula is a trade secret of the company.
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