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Competitive intelligence from public sources, customers, and third parties can help businesses anticipate market opportunities, trends, and strengths and weaknesses. However, intelligence gathering must be done in an ethical and reasonable way. These guidelines from MarketingScoop.com provide a step-by-step way to acquire the information you need without crossing the line.

1. Ask questions. If you come across or are offered competitive information and believe that it may be confidential or proprietary, ask questions to find out how the information was obtained, or why it was made available.
   
   
2. Consider the competitor’s view. How would you or your business react if you found out that your competitors were receiving the kind of information that you acquired? If you think that a particular way of gathering competitive intelligence may be unethical, you should assume that your competitors would view it the same way.
   
   
3. If it doesn’t seem right, don’t do it. If you’re ever in doubt as to whether an information source or a technique you’re considering for gathering knowledge is proper or legal, you should discuss it with your manager or attorney.
   
   
4. Consider the consequences of breaking the law. If you improperly gather or use competitive information, you can be disciplined or terminated, and you could even face criminal or civil penalties. Breaking the law can also result in adverse publicity for your company. Think about how you’d feel if your actions were publicly disclosed on the front page of a newspaper.