Intellectual Property Leakage

The long-term ramifications of leaks private or IP data can affect business innovation financial stability, competitive advantage. The ability to be able to identify and respond to these kinds of attacks is crucial for all businesses to stay ahead of competitors, limit the impact on their bottom line and regain their image after an incident that has damaged their reputation.

Intellectual property is a broad term that refers to the human minds, such as inventions and literary and artistic works. It also encompasses names, symbols, or designs that are used in commerce. On an even more practical scale, intellectual property includes private information that gives companies an edge in competition, such as computer programs, business processes manufacturing methods and client lists.

The value of these assets can be intangible and not always identified or quantified, however it is certainly an important asset for a business which must be secured. In the past, criminals would have needed to take an object of physical nature like a blueprint or client list for theft of intellectual property. However, with the advent of digital technology cybercriminals can now easily and affordably steal these valuable assets.

A majority of these thefts occur due to human error, for instance, sending confidential documents to the wrong person or the loss of a device that contained sensitive information. But some are deliberate and usually the motive https://heraldinsurance.co.uk/the-new-standard-for-data-security-leveraging-virtual-data-rooms/ is money. For example, semiconductor manufacturers could face substantial fines for release of their IP outside of the country without an export license that is deemed in place. A comprehensive IP lifecycle management solution in place, such as Helix IPLM will help to reduce the risk and stop leakage of this highly sensitive information.