Companies have been using various methodologies to spy on their competition for as many years as there have been businesses competing for share of a marketplace. While the reasons for espionage have arguably changed little over time, the manner in which it is done has been subjected to constant change. This is because without change, methods of spying would not remain effective. There are only so many times one “trick” will work without an opponent building a defensive system to protect against it. It should be no surprise to those involved in the day-to-day struggles of the modern business world that today’s espionage is now done via computers. Protecting your company’s assets through the use of trade secrets laws is essential to combating cybercrime.
American companies face new threats from online hackers every day and it would be close to impossible to guarantee that all of those threats are rendered harmless by defensive techniques. However, if a company’s leaders remain aware of the most dangerous threats that exist today, it is the first step in ensuring the business remains as safe as possible under the circumstances. Defense systems and awareness of potential threats can also help a company mitigate damages after a breach.
According to one estimate, cybercrime generally costs American companies over $445 billion annually. This number in the aggregate is an outrageous number and, to be fair, is a much more manageable number when it is spread out over the myriad of affected companies in the country. However, it is important for leaders to know that cybercrime knows no boundaries. All companies, large and small, are victims of hackers and opportunists every single day. Not all cybercrime incidents make headlines, but even the smallest breach of cybersecurity systems should be seen as a warning to larger, more costly hacks.
Corporate spying through the use of hackers has increased exponentially in recent years as these cyber criminals have learned the true value of the information they are able to access. By hacking into one company’s databases, a hacker can gain access to the company’s most guarded secrets, including the email messages of the company’s top leaders and business partners. This information can garner hundreds of thousands, if not millions, of dollars from competitors if it can provide an edge in today’s marketplace. How many companies have been forced to sell or been pushed out of business by a competitor who has received illicit information through the furtherance of cybercrime? What about companies who have surrendered to blackmail from hackers who knew the value of their information and were defenseless against the breach?
It may be impossible to determine just how many businesses are hacked each and every day, or just how much money is lost to hackers who capitalize on the weaknesses of corporate systems. It is not impossible to build a defense against such activity, or take measures to mitigate losses through legal means. If you have concerns about the current state of cyberlaw and how your company can protect its trade secrets from espionage, contact the law office of Garcia & Gurney today. Our lawyers have extensive experience in all aspects of copyright and trademark laws that are designed to protect your intellectual property, even after a breach.