Electronic hacking and illegal trespassing for the purposes of acquiring a competitor’s proprietary information are considered economic espionage.
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What is economic espionage?</h3>
- Economic espionage includes electronic hacking and illegal trespassing to obtain a competitor's proprietary information.
- Economic espionage is defined as the illegal or covert targeting or acquisition of sensitive financial, trade, or economic policy information; proprietary economic information; or technological information.
- Using bribery, cyber-attacks, "dumpster diving," and wiretapping.
- Creating seemingly innocent relationships with US companies in order to gather economic intelligence, including trade secrets.
- President Clinton signed the Economic Espionage Act of 1996 into law.
- It criminalizes the theft or misappropriation of trade secrets.
- It is notable for being the first federal statute to broadly define and severely punish such misappropriation and theft.
Therefore, electronic hacking and illegal trespassing for the purposes of acquiring a competitor’s proprietary information are considered economic espionage.
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