Any real scientists ought to recognize that secrecy as a strategy is terrible for science as a whole even if it is very temporarily good for them.
Especially for final masters degree projects this is very common as the students don't get paid by the university at all, so many try to find a company to sponsor. But the students still need the uni to publish the report for them to get their final degree so you get this conflict of interest again. Most of these reports are just written with the end goal of getting a degree, not of creating solid research, this really needs the stricter universities not letting through all that crap, for now they shouldn't really be trusted the same way as proper research papers.
Edit: This is additional context for the commenters below.