Court of Appeal tests when a trade secret is already in the public domain
Appellants who lost a breach of confidence and trade secrets claim argued the information had been public all along. The Court of Appeal examined that defence.
IlliquidX Limited v Altana Wealth and others [2026] EWCA Civ 874 was handed down on 10 July 2026, on appeal from Mr Justice Rajah's judgment ([2025] EWHC 299 (Ch)) granting IlliquidX judgment on claims for breach of confidence and misuse of trade secrets.
Lord Justice Arnold, with Lord Justice Zacaroli and Lord Justice Miles, recorded the principal issue as whether the confidential information the judge found had been misused was in the public domain at the relevant time.
The 'it was already public' argument is the standard answer to a trade secrets claim, and it is fact-heavy: it forces the claimant to prove, document by document, what was genuinely confidential when it was taken.
Winning at trial did not end the matter – the defendants appealed, and the claimant had to fund the defence of its own judgment. Costs cover that stops at first instance leaves the most dangerous stage uninsured.
DEFENCE UP TO £5M · PURSUIT UP TO £1M IN YEAR ONE · PURSUIT ONLY WITH DEFENCE
SOURCE: Approved judgment (PDF)
Summarised for general information only. Nothing here is legal advice or a statement of policy terms – cover is subject to underwriting and the policy wording.