Intellectual Property Leaks
The repercussions of private and IP data leakage can have long-lasting consequences on business innovation as well as financial stability and competitive advantage. Implementing a solution to be able to identify and respond to these kinds of attacks is essential for businesses of all sizes to stay ahead of competitors, limit the impact on their bottom line, and improve their standing after a damaging incident.
Intellectual property is a broad term that refers to the creations of minds of humans, such as inventions and artistic and literary works. It also includes designs, names, or symbols used in commerce. Intellectual property is more practical and contains confidential information that provides businesses with an edge in the market like business processes.
The value of these assets may be intangible and is not always identified or quantified, however it is certainly an important asset for a business that must be protected. In the past, would-be thieves needed to pinch a physical artifact (say a blueprint or a client list) in order to steal intellectual property. However, due to the digital revolution it is now easier and more cost-effective for cybercriminals and hackers to take over these valuable assets.
Most of these thefts are caused by human error, for instance, sending a confidential document to the wrong person or the loss of a device that contained https://heraldinsurance.co.uk/the-new-standard-for-data-security-leveraging-virtual-data-rooms/ sensitive information. Some are intentional, and the motive is typically monetary. Semiconductor companies, for instance could be subject to severe fines if they release 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 mitigate the risks and ensure that there is no the leakage and misuse of this sensitive information.