![]() If you have sensitive business information on your company network, consider which employees have access to it. ![]() An informed employee is a vigilant employee. Help them understand that by protecting the integrity of your network, they are protecting, by extension, their own livelihood. Inform your employees about the threats of corporate espionage and intellectual property theft. Here are four tips on how to protect your company's secrets: Many companies still fail to install the necessary preventative measures and, consequently, remain vulnerable to incidents of corporate espionage. A spy could be anyone around you – a disgruntled employee, a supplier working for your competitor, or anyone who can somehow gain access to your network. Protecting your companyĮspionage can affect companies of any size. He was apprehended by authorities just a day before he was supposed to board a flight to China where he had applied for a job at a company working on a competing autonomous driving project. Thousands of files containing Apple's intellectual property, including manuals, schematics, and diagrams, were found on the engineer's computer. What prompted the investigation was another employee accidentally spotting the engineer in question taking photographs in a restricted-access area. Last year, Apple, together with the FBI, accused one of its engineers of stealing trade secrets related to autonomous cars. This is why, according to the same report, the high-end estimate could be around $540 billion, amounting to 3% of GDP.Įven high-profile companies like Apple ought to be doing a better job at fending off corporate spies and protecting their sensitive data. ![]() Due to the reputation-destroying effect of such incidents however, many corporate espionage cases go unreported. businesses at $180 billion, or 1% of U.S. This report, estimated the low-end cost of trade secrets theft to U.S. Theft of intellectual property can cause whole sectors of the economy to weaken and to lag behind in the global marketplace. When its trade secrets get stolen by a competitor, a corporation might lose overnight not just its competitive edge, but its reputation as well. They generally consider stealing trade secrets, such as scientific research or engineering innovations, a more lucrative and less stressful career path than stealing government secrets. ![]() It is hardly surprising that many ex-CIA and ex-MI6 agents have become corporate spies for hire. Much like the government-employed spies we see in movies about the Cold War, corporate spies are employed by rival businesses and paid to apply very similar spying techniques. How intellectual property theft endangers businesses and affects the global economy.Ĭorporate espionage, also known as industrial or economic espionage, is the practice of one corporation stealing secrets from another for the purpose of gaining a commercial or financial advantage. ![]()
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