Intellectual Property Leakage

The repercussions from private and IP leaks of data can have long-lasting consequences on business innovation https://heraldinsurance.co.uk/the-new-standard-for-data-security-leveraging-virtual-data-rooms/ as well as financial stability and competitive advantage. The ability to be able to identify and respond to these types of attacks is essential for businesses of all sizes to stay ahead of competitors, limit the impact on their bottom line and restore their reputation after a damaging incident.

At a high level intellectual property refers to human-made creations such as inventions, works of art and literature such as names, symbols, or designs that are used in commerce. However, at an even more practical level, intellectual property covers confidential information that provides companies with an advantage in the market, like computer programs, business processes manufacturing methods, and client lists.

The worth of these assets can be intangible, and therefore not always assessed or quantified, but it is a crucial asset to a company that should be safeguarded. In the past, criminals would have needed to steal a physical artifact like the blueprint or client list for theft of intellectual property. However, with the advent of digital technology cybercriminals are now able to quickly and inexpensively take these valuable assets.

A lot of these thefts are caused by human error, like sending a confidential document to the wrong person, or losing a device with sensitive information. But some are deliberate and usually the motive is monetary. Semiconductor producers, for instance are subject to heavy penalties if they share their IP outside of the country without a deemed export license. Having a complete IP lifecycle management system in place, such as Helix IPLM can help reduce these risks and prevent the leakage of this highly sensitive information.