It does, either in films or intelligence lore, but not for all intents and purposes, in regular life (regular life including corporate espionage). As for counter-measures: curtains.
It's a bit like being sold flood protection insurance if your data warehouse is in the desert. In other words, it just doesn't happen realistically, and there are a million and one other much more practical technical surveillance counter measures to spend a likely very-limited security budget on.
When your unit of accounting is such that six figures is a rounding error, they can afford it. And for good reason.
I wouldn't expect you to have knowledge of their operations. The only reason I do is because I was close with the head of security. But I will make sure to pass along your expert advice next time I'm there.
Did all of the countermeasures help? Yes, probably quite often. Were they bullet-proof? Absolutely not, and the director of security would have told you so.
Mmm hmm, okay.