Corporate Espionage Trends in India
By Team Legistify / 2016-05-14
Law regarding corporate espionage is dealt under Official Trade Secrets Act, 1923. According to this act, if any person by wrongfully wearing any uniform of public servant or police office enters into prohibited place where confidential documents are kept uses, forges or steal such documents for any purpose which prejudicially affects security of State will be liable under this act for imprisonment of three years & fine.

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Corporate espionage is nothing but a business scandal which is on the rise in India. Corporate espionage basically refers to stealing trade secrets and confidential information by companies to gain exorbitant profit.

Cabinet notes, ministries opinions, action planned by RBI, SEBI and even international regulators, banks, income-tax authorities, stock exchanges and even public sector units make their way to the hands of companies through their  lobbyists. They use the information thus gathered for a variety of reasons and like making a quick buck at the stock markets or use it to further their business.

Laws Relating to Corporate Espionage

Law regarding corporate espionage is dealt under Official Trade Secrets Act, 1923. According to this Act, if any person by wrongfully wearing any uniform of a public servant or police office enters into a prohibited place where confidential documents are kept uses, forges or steal such documents for any purpose which prejudicially affects the security of State will be liable under this act for an imprisonment of three years & fine. Companies who engage in spying on competitors is also punishable under Section 3 of Official Secrets Act.

CASES

Law regarding corporate espionage is dealt under Official Trade Secrets Act, 1923. According to this act, if any person by wrongfully wearing any uniform of public servant or police office enters into prohibited place where confidential documents are kept uses, forges or steal such documents for any purpose which prejudicially affects security of State will be liable under this act for imprisonment of three years & fine.

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