Wednesday, August 24, 2011

FBI warns businesses to protect their trade secrets and information

KAYSVILLE -- Companies and individuals need to protect their trade secrets and financial information the way Kentucky Fried Chicken protects its secret recipe of 11 herbs and spices, FBI officials warn.

FBI Special Agent Karl Schmae and FBI Financial Analyst Shane Esplin, from the Salt Lake City office, shared tips with the Davis Chamber of Commerce on Tuesday to help business owners protect themselves from becoming victims of a white-collar crime.

About 30 people attended the presentation titled "Economic Espionage: Trade Secrets Under Attack." The presentation was made at the NorthFront Business Resource Center in Kaysville.

The FBI has a broad mission that includes "economic espionage" and the impact it has on businesses, Schmae said.

Some of that espionage includes the stealing of trade secrets and claims ranging anywhere from the design of America's space shuttle being stolen by Russians, to New England Patriots Football Coach Bill Belichick spying on other NFL teams, Schmae said.

But in the world of economics, it is every company for itself, and it is the responsibility of each company to protect its trade secrets, research or marketing information -- all that separates them from their competitors, Schmae said.

Trade secrets have to be identified, Schmae said, and "reasonable measures" taken to protect them, including educating staff that any information they glean by working for the company cannot be shared.


No comments: