The information security management system (ISMS) came into being to secure any kind of information within a company which, if leaked, could bring problems to that company. In fact, the standard, ISO 27001, was reached so that companies could adhere to it and keep any of their private information under wraps. Cyber spying is what they were trying to abolish since hackers everywhere are always trying to infiltrate computer systems so that they can steal ideas or plans to sell off somewhere else.
Although, most companies will rely on their staff to hold onto important information, there used to be no standard for people to refer to. Because of this unruly approach to security, many companies only found out that their systems had weaknesses once they lost their information.
Imagine if a company has been working on a new product for several years or so. Developing the product takes and inordinate amount of money and if a competitor can get his hands on the plans before the launch date, he will be able to produce that product at very little expense.
The unit price will be reduced, since he does not have to recover any costs for research and development, and the originating company will certainly lose millions of dollars since no one will buy a similar product at inflated rates.
Many companies will be generally aware of cyber spying and how it is done. However, what they forget is that all discarded paperwork will also give clues as to what is going on in the place. Vast orders for certain products or memos which have been discarded can all be pieced together to give the industrial spy some idea of what is coming out soon. This may all sound a little cloak and dagger but people have been found rifling through waste paper baskets and bins for any information.
Some third party companies then came into being to educate employees and managers alike on how not to feed information inadvertently to those who do not need to know what is going on in another department. Cross talking will surely lead to gossip which in the end can be sold outside the company. These security companies also take a look at the systems used on the computer and will certainly set up a system where those in the lower ranks will only be able to access certain levels of information. For example, those in accounts will not need to know what is going on in research and development since they may be able to put two and two together, so to speak, and work out what is about to be made.
This standard, which is relatively new, is an international standard so anyone doing business with the company can be confident that leaks will be kept to a minimum. Some businesses are notoriously private and will want to keep their own secrets when dealing with other companies for sure. This is a good selling point and it is what some companies are looking for when they need partner companies.