Specific knowledge held by an individual or a company on a product or production process, often obtained through extensive and costly research and development (R & D). Under the Community competi- tion rules know-how is normally deemed to be a body of technical information that is secret, substantial and identified. ‘Secret’ means that the know-how package as a body, or in the precise configuration and assembly of its components, is not generally known or easily accessible. ‘Substantial’ means that the know-how includes informa- tion that must be useful. ‘Identified’ means that the know-how is described or recorded in such a manner as to make it possible to verify that it satisfies the criteria of secrecy and substantiality.

Source: Glossary of terms used in EU competition policy, Antitrust and control of concentrations, European Commission, 2002