Troutman Pepper, a US law firm with more than 1,200 attorneys, has created a Corporate Espionage Response Team to help its clients protect against data theft and other cybersecurity issues.
This team includes attorneys and technologists across multiple practice areas and disciplines, Troutman Pepper indicated. These attorneys and technologists handle corporate espionage investigations and litigation.
Corporate Espionage Can Be Costly
With corporate espionage, an insider or third-party accesses, steals and/or uses an organization's confidential and proprietary information without authorization to do so, Troutman Pepper indicated.
Some experts estimate that the cost of corporate espionage totals billions of dollars annually, said Evan Gibbs, co-leader of Troutman Pepper's Corporate Espionage Response Team.
Meanwhile, the civil and criminal penalties for corporate espionage can be severe — even if an organization is unaware that this issue is happening, Troutman Pepper pointed out.
For example, if a business employee or contractor illegally uses data or documents from another company, the worker or contractor's employer can be held responsible.
Why Troutman Pepper Developed a Corporate Espionage Response Team
In his work with clients, Gibbs found that corporate espionage matters often require expertise across many areas, including:
- Cybersecurity
- Business litigation
- Labor and employment
- Privacy
- Digital forensics
Gibbs also noted that there is a "real need for speed" with corporate espionage matters. Therefore, Troutman Pepper put together a Corporate Espionage Response Team with the expertise needed to help its clients quickly and efficiently deal with these matters.
How Troutman Pepper Addresses Corporate Espionage
Troutman Pepper's Corporate Espionage Response Team teaches organizations how to scope, triage and remediate the damage from corporate espionage, the law firm noted.
The team provides legal and technical guidance to help organizations address their current vulnerabilities and mitigate future threats, Troutman Pepper indicated. It works with stakeholders in operations, IT, human resources and other departments to handle corporate espionage investigations and litigation and strengthen their organizations' internal policies and practices and other protections.
How MSSPs Can Help Their Customers with Corporate Espionage Matters
Troutman Pepper helps its clients manage corporate espionage matters, and MSSPs can do the same for their customers.
MSSPs can teach their customers about corporate espionage and the dangers associated with it. They can also provide managed security services designed to help their customers protect against corporate espionage and other cybersecurity issues.
