1. Research is not the only espionage target. Executive level discussions – future launch decisions, major deals signed with other companies, relationships with governments, blackmail material – are all very valuable.

2. An operation can be state-sponsored and still amateurish/botched. We have seen plenty of examples of these. Remember a certain bone saw?

3. The incentive can be a lot more than financial. Plenty of governments are very…persuasive.