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How to Protect Your Business from Industrial Espionage

Industrial espionage is basically concerned with information theft and sabotage. Also known as economic espionage, industrial espionage is a big threat to any business, especially the businesses that depend largely on information for their livelihood. You don’t need to wonder why anyone would want to steal another person’s information, or don’t you know that information could make a huge difference between a successful and failed business? Once a business’s trade secret is hijacked through theft, that could bring an end to that business and a meaningful rising to the competitor who stole the trade secret.

How is Industrial Espionage Perpetrated?

There are various ways through which industrial espionage can be perpetrated. For instance, a dissatisfied employee or contractor can decide to divert a company or business’ sensitive information for the purpose of damaging the company’s image or achieving their own personal interests. A competitor may also use a spy in form of an engineer, cleaner, maintenance man, an inspector or an insurance agent to penetrate its target business’ premises and facilities, in order to gather some useful information.

Proliferation of Industrial Espionage through the Internet and Computers

In addition to the conventional strategies through which industrial espionage is perpetrated, the rising of internet, computers,  and software programs s has spread opportunities and avenues for industrial espionage, with the aim of information theft and sabotage.

The rise of computer networks and internet has extended the range and aspects of information available, including easy and unauthorized access for the purpose of perpetrating industrial espionage. Recent statistics shows that approximately 50,000 businesses or companies worldwide are perceived to be victims of cyber-attack daily, and the rate has been estimated to be doubling every year. While some of these espionage practices are sponsored or backed by state or competitors, others are carried out by cyber criminals or unsuspecting freelance service providers. In recent time, computers and the internet have increasingly become key in proliferating industrial espionage practices. Therefore, online service buyers and those leveraging the services of freelance outsourcing vendors should be thorough and careful during a selection process. Also, service buyers should be careful when disclosing sensitive information to contractors, so that they may not end up spilling their trade secrets to a competitor’s agent or someone who will sabotage the information disclosed.

So, How Can You Protect Your Business from Industrial Espionage?

Reliable statistics from FBI shows that American businesses lose $100 billion yearly as a result of corporate espionage. And, it has been observed that a higher percentage of this incidence is perpetrated by unsuspecting parties such as greedy executives, janitors and other insiders in a company, including outsiders such as handymen and sales reps from other companies.

No doubts, outsourcing services through GetACoder is the best way to get quality service at cheaper rate. However, service buyers should be extremely careful when outsourcing certain aspects of their business operations. Also, the selection process should be profound and thorough.

Kareen Happuch is a renowned professional freelance writer.  She delivers only top quality and 100% Unique Contents on wide range of topics and niches. Kareen has a first degree in Co-operative Economics and Management, but have been a passionate, naturally talented writer from her high school days. She has taken some relevant courses after college to further develop her innate writing skills. Kareen is one of several freelance writers on the GetACoder Blog team.

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1 comment

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