A fair question that. Were I a Blackwater exec I'd be penning a small addendum to the Business Plan.
Then I'd be on a plane...
L
Do they defend individual ships and ride aboard, or do they freelance? The pirates take a ship and demand ransom, and Blackwater takes the ship back, killing all the pirates aboard and sailing the ship back to the open ocean. If the company pays Blackwater half the usual pirate ransom for their freelance work, the next ship gets rescued too at the same rate, and otherwise Blackwater blacklists that company. I like it, and I imagine a few Blackwater professionals would like hunting down pirates better than riding security duty.
The alternative? Hopefully if Blackwater does ride security, they'll stay low-key. When the pirates show up, Blackwater could follow a "don't fire until you see the whites of their eyes" strategy, and we'll still get lots of dead pirates. The best part of that is that dead men tell no tales - and they might all be within range of Blackwater's weapons. The pirates might be slow to figure out what's going on, and they could lose a large percentage of their experienced leaders before they realize that the rules have changed.