Multiple alt causes to IP theft---specifically through trade secrets
Chounlamountry ’24 [Jade; June 6; attorney licensed in both Minnesota and Nevada, with a J.D. and Business Law Certificate from Mitchell Hamline School of Law; FindLaw; “Theft of Trade Secrets”; https://www.findlaw.com/smallbusiness/business-laws-and-regulations/theft-of-trade-secrets.html]
There are numerous different ways of illegally acquiring trade secrets, such as:
Former Employee Theft: A former employee with access to sensitive company information may make a copy onto a USB drive before leaving the company. This could include proprietary software code, customer databases, or manufacturing processes.
Social Engineering: A competitor could use social tactics to trick an employee into revealing confidential information. For example, posing as a vendor or client, they might gain access to information by tricking an employee into giving it.
Hacking and Cyber Espionage: Cybercriminals might hack into a company's network to steal valuable trade secrets. This could involve sophisticated techniques like phishing, malware, or ransomware attacks.
Corporate Espionage: A competitor might hire a spy to infiltrate a target company, posing as an employee to gain insider access to trade secrets. This person could then collect and share confidential information with the competitor.
Unauthorized Sharing on Social Media: Employees who want to benefit themselves might put trade secret info on their social media accounts. This could include details about upcoming product launches or marketing strategies.
Misuse of Non-Disclosure Agreements: Employees might violate a non-disclosure agreement (NDA) by sharing secret information with third parties. This may include a competitor, a new employer, or unauthorized parties.
Copying Trade Secrets onto Personal Devices: Before leaving the company, employees might copy important files onto personal devices. For example, copying customer lists or pricing info onto their laptops or smartphones.
Recruitment of Insiders: Competitors might recruit employees from a target company to access valuable information. This could involve enticing offers or benefits.
Dumpster Diving: People can steal trade secrets through physical actions. An example is going through a company's trash to find sensitive information documents.
Unauthorized Use of Company Credentials: If ex-employees still have access to the computer systems, they might use their log-in details to get to your trade secrets even after leaving.