This thesis takes a critical look at the practice of industrial espionage. By focusing on one recent case of industrial espionage, the case occurred on 2002 involving major multinational such as Ericsson and Russian intelligence interferences, focus on current developments in the competitive intelligence gathering 'industry' and the ethical problems that are typically surfaced.The argument is made that, from an ethical point of view, industrial espionage can be assessed according to three main considerations: the tactics used in the acquisition of information; the privacy of the information concerned; and the consequences for the public interest as a result of the deployment of the information by the intelligence gatherer. These issues are examined in the context of the case, and implications for the overall definition and assessment of industrial espionage are considered.To complete the case analysis, author will make a study. A study needs to be conducted to show that security measures and counterintelligence techniques will reduce and resist the effects of economic espionage for companies. Economic espionage results in tremendous losses for the firms every year. A study needs to be done to show that these losses can be reduced and they should not be viewed as unavoidable.The assumption are : with new and innovative security countermeasures and counterintelligence techniques in place, companies will be more prepared to detect and deter industrial spies from robbing them of their secrets. Through this study, the author feels that the implementation of security measures and counterintelligence techniques designed to prevent economic espionage would greatly benefit to the companies specially and state in general.In term of research methodology, this study is planned to pattern a lesson learned from a case study, Using modeling approval, this thesis analyzes the Ericsson case and uses Insider Threat approach, Categorical Imperative theory Approach and Ethical Intelligence Approach.