This is an unfortunately a common occurrence. I have talked to countless businesses who have “cribbed” agreements, TOS, privacy policies, and more from other company’s web sites. Universally without a thought towards the fact that these agreements are protected by copyright. Of course, the mere fact that “lots of people do it”, is no defense to copyright infringement.
Further complicating matters for companies is that, without proper legal guidance, the companies “cribbing” other companies’ agreements may be making use of agreement which, even if properly obtained, are not appropriate for their needs.
All in all, this is a practice companies should avoid. The consequences of doing it the wrong way are, simply put, far too great.