Electronic hacking and illegal trespassing for the purposes of acquiring a competitor’s proprietary information are considered economic espionage.
<h3>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.
With checks and balances, each of the three branches of government can limit the powers of the others. This way, no one branch becomes too powerful. Each branch “checks” the power of the other branches to make sure that the power is balanced between them.
