This article discusses the ethical problems faced in those investigations where competitors are the central objects of the study. A conceptual framework is developed that helps build ethical boundaries between information collection techniques. The model will employ four fundamental variables, the analysis of which will lead to the progressive selection of collection techniques. The final outcome will primarily depend on the strategic purposes of decision-makers. The model helps resolve ethical dilemmas that can arise in the competitor information gathering process in domestic and global markets. In addition, this article will present a new approach to the treatment of corporate ethical consciousness.