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Economic Espionage and Trade Secrets

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Economic Espionage and Trade Secrets
A trade secret is defined as any information that is held confidential by the business and is
useful in helping to maintain a competitive edge against other companies/firms. There are two
forms of trade secrets manufacturing and commercial, reviling of this trade secret without due
authority is a violation of set trade secret rules. The protection of trade secrets is a legal matter
that is sensitive to the policies established by the local, state or federal government. Examples of
trade secrets include advertising strategies, sales strategies and delivery means. The infringement
of these trade secrets constitute either of the following commercial espionage, breach of contract
or confidence (Mark & Angela, 1999).
Economic espionage can be defined as any unlawful acquisition of economic intelligence
and trade secrets for the benefit of other foreign companies. The action of economic espionage
can take effect in the form of recruit people who are citizens of that target nation or working for
a particular company (Quinn & Sullivan, 2012). Second by use of bribery, theft and hacking into
computer framework that holds vital/sensitive company details. Thirdly, foreign entities can
establishment of false business ties with target companies in order to get easy access to their
company resources. Protection against economic espionage can be done through the following
recognizing potential threats found inside and outside the company. Identifying and safeguarding
trade secrets, reviling trade secrets to persons of utmost faith, encrypting data on trade secrets
stored in electronic resources. Lastly is educating employees on the importance of trade secrets
(Quinn & Sullivan, 2012).
The start needed in conducting investigation into industrial espionage is recognizing tell-
tale signs of espionage in the company. First an employee may showcase a change of view or

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opinion concerning the company or against government. Secondly, individuals seeking to solicit
vital information are like to show up to work before time, work through breaks and work well
into overtime without raising an ounce of suspicion on their intensions. If we consider these two
issues that can affect the turnout of investigations into economic espionage and theft of trade
secret. We are able to understand how to combat these issues head on and to a more effective
extent (Quinn & Sullivan, 2012).
A good system that recognizes economic espionage and trade secret theft strategies is able
to help companies save finances, prevent costly lawsuits, combat negative publicity, and avoid
business loss. Economic espionage is more crippling that trade secret theft even though some
forms of trade secret theft are sub genres of economic espionage (Nasheri, 2012). The reason
why economic espionage is so serious an issue is due to its ability to dive into issues of national
security and overall economic prosperity of a nation. Countries can through economic espionage
obtain vital information about a countries national economic interests and use that information to
defeat to harm the victim nation. The action of economic espionage is not limited to one
company or just a group; the action can be focused on an entire region, destroying its
competitive edge and effectiveness of intellectual property (Nasheri, 2012).
There are a number of steps that can be implemented by a firm or company to safeguard
against economic espionage and they are: handling any incidents of workplace espionage in a
fast and controlled manner, Secondly, instituting better policies that will mitigate cases or
occurrence of industrial espionage. Lastly with case study develop effect steps of actions against
any instances of industrial espionage (Nasheri, 2012).

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