Industrial Espionage
Industrial espionage is the covert, sometimes illegal, the practice of investigating competitors to gain a business advantage.
The target of an investigation might be a trade secret, such as a proprietary product specification or formula or information about business plans. In many cases, industrial spies seek data their organization can exploit to its advantage.
Industrial espionage refers to the illegal and unethical theft of business trade secrets for use by a competitor to achieve a competitive advantage. This activity is a covert practice often done by an insider or an employee who gains employment to spy and steal information for a competitor. Industrial espionage is conducted by companies for commercial purposes rather than by governments for national security purposes.
Industrial espionage describes a series of covert activities in the corporate world, such as the theft of trade secrets by removing, copying, or recording confidential or valuable information in a company. The information obtained is meant for use by a competitor. Industrial espionage may also involve bribery, blackmail, and technological surveillance. Also referred to as corporate spying or espionage, or economic espionage, industrial espionage is most commonly associated with technology-heavy industries—particularly the computer, biotechnology, aerospace, chemical, energy, and auto sectors—in which a significant amount of money is spent on research and development (R&D).
The world's most significant practitioners of industrial espionage correspond to companies in countries with the biggest economies. One of the reasons why corporations engage in industrial espionage is to save time and huge sums of money. After all, it can take years to bring products and services to market—and the costs can add up. In recent years, industrial espionage has grown with the help of the internet and lax cybersecurity practices, though such acts have become easier to detect. Social media is a new frontier for industrial espionage, and its full impact and utility are still being measured
Industrial Espionage: Definition, Examples, Types, Legality. Investopedia. Retrieved from: https://www.investopedia.com/terms/i/industrial-espionage.asp
What Is Industrial Espionage? TechTarget. Retrieved from: https://www.techtarget.com/whatis/definition/industrial-espionage