Intellectual Property Leaks
The repercussions of private or IP leaks of data can have long-lasting effects on business innovation as well as financial stability and competitive advantage. Companies of all sizes require an approach to detect and react quickly to such attacks in order to stay ahead of competitors, limit the impact on their bottom line and to restore their image following a devastating event.
At a high level, intellectual property refers to creations of the human mind like inventions, works of art and literature or symbols, names or designs that are used in commerce. However, at the more practical level intellectual property encompasses confidential information that provides https://heraldinsurance.co.uk/the-new-standard-for-data-security-leveraging-virtual-data-rooms/ companies with a competitive advantage like computer programs, business processes manufacturing methods and client lists.
These assets are typically intangible, and their value isn’t always quantified or acknowledged. However they are nonetheless important assets for a company that must be secured. In the past, criminals would have needed to steal physical objects, such as an outline or a client list, to steal intellectual property. With the advent of digital technology, cybercriminals are now able to easily and cheaply steal these valuable assets.
Human error is at the root of the majority of these thefts, such as sending confidential documents to the wrong person or the loss of a device containing sensitive information. Others are deliberate, and the motives are usually related to money. Manufacturers of semiconductors, for example, can face heavy penalties if they divulge their IP outside of the country without a deemed export license. A complete IP lifecycle solution, such as Helix IPLM, can reduce these risks, and also stop leakage of sensitive information.
