![]() In early 2018, private security experts reported that American businesses lose US$160–US$480 billion annually due to trade secret misappropriation. Director of the FBI Louis Freeh noted that the cost to US business for all types of espionage was more than US$100 billion annually. An employee most often accomplished the thefts. In 1994, the FBI reported that its economic counterintelligence unit had information that nearly 50% of research and development firms had a trade secret theft, and 57% reported repeat or multiple thefts. ![]() By 2015, research and development spending reached an all-time high of US$499 billion. “It’s a fact, if you snooze you lose.” “Competitive Intelligence is your best alarm clock.” īy 2010, research and development investment in the United States had more than doubled to nearly US$380 billion, or 2.62% of nominal GDP. The following information from a 2001 Business Week publication illustrates the point well: companies that engage in corporate spying see a payoff in increased revenue, costs avoided, and better decision-making. This ranges from analyzing publicity documents to schmoozing representatives to research securities filings and news reports. Competitive intelligence (which if not properly conducted can also be a form of industrial espionage) involves legal means of data collection. Still, the issue of what constitutes espionage can be gray. The spy’s tools may have transitioned to the computer and other sophisticated technology, but many of the people are previous Cold War participants, now working for private firms. However, the reality is somewhat different but in a world of increasing corporate competition and computer-based data storage, the problem of espionage is increasing. ![]() Government spies, typified by James Bond, working in glamorous settings, retrieve government secrets. ![]() Walters, in Introduction to Security (Tenth Edition), 2019 EspionageĮspionage usually brings about thoughts of spies sneaking into a company’s private vaults and copying or stealing formulas or products. ![]()
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