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Trade Secrets Essay

1304 words - 5 pages

Running head: TRADE SECRETS 1Assignment #3: Trade SecretsShirley SpannJerome GideonSEC 315August 15, 2014Imagine Edward Snowden working for one the United States' billion dollars industries like Apple or Microsoft? While working Snowden becomes a trusted employee who has access to company information. Snowden opposes in how the company is operating, and he doesn't agree with their mission statement for business. Even though Snowden doesn't agree with the operation, he decides to download and transmit the company's trade secret and gives these secrets to Samsung and China. Now that I placed the image in your minds, this is an example of "Economic Espionage." Industrial espionage happens when individual decides to share sensitive information to outside companies or foreign countries for profit. The action causes companies financial loss or loss of comparative advantage of the owner. Industrial espionage includes the embezzlement of trade secrets without detection. Trade secrets are a form of information, formula, methods, systems, or prototypes that the stakeholders have taken conscious efforts to protect. Trade secrets have an independent business profit regardless the form they are. The cases accessible account for the failed attempts in which the spies and deceitful employees were caught. As economic competition grows, industrial espionage will be the main focus for companies to protect their secrets and competitive advantages.In today marketplace companies, competing has to have knowledge and expertise to gain revenue and advantages over other companies. Although to become a successful business, you have to keep your trade secrets such as methods, strategy or process away from untrustworthy individuals. In order to maintain, the company's competitive advantages need to be able to identify, control and defend its intelligent assets (Drab, 2003). However, when it comes to investigating espionage companies still have problems. One issue companies have with espionage is identifying competitors' advantage technology used to attack and receive trade secrets. The technical operations of intelligence services can accomplish their collection objectives without a trace of evidences and can be undetected for years. Only when the company sees a loss of business share being the only indicator. The companies need to make their employees aware of the importance of surveillance by training them on detecting, identifying and reporting economic espionage. Failure to train and make employees aware of espionage may results in companies' losses in market, loss of jobs, and maybe loss of business.Another problem involving economic espionage is some companies are afraid to report violations, losses and disclosures to their trade secret to the public. Therefore, the profit goes to the violators, and they are free to steal other companies' secrets. Companies fear that the public and stockholders will no longer trust their business ethics. Although companies are...

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1304 words - 5 pages Running head: TRADE SECRETS 1Assignment #3: Trade SecretsShirley SpannJerome GideonSEC 315August 15, 2014Imagine Edward Snowden working for one the United States' billion dollars industries like Apple or Microsoft? While working Snowden becomes a trusted employee who has access to company information. Snowden opposes in how the company is operating, and he doesn't agree with their mission statement for business. Even though Snowden doesn't agree