Intellectual Property Leakage
The repercussions of private and 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 respond quickly to such attacks to stay ahead of competitors, reduce their impact on their bottom-line and regain their image after a negative incident.
At a high level, intellectual property refers to creations of the human mind such as inventions works of art and literature, symbols, names, or designs used in commerce. Intellectual property is more practical and contains private information that gives businesses an edge in competition including business processes.
The worth of these assets can be intangible and may not be measured or recognized, but it is a crucial asset for a business that must be protected. In the past, thieves would have had to steal an object of physical nature such as an outline or a client list, to steal intellectual property. With the advent of digital technology, cybercriminals can now easily and cost-effectively take these valuable assets.
A majority of these thefts occur caused by human error, like sending confidential documents to the wrong person, or losing a device containing https://vdrservices.blog/a-complete-overview-of-nasdaq-s-board-meeting-software/ sensitive information. Others are deliberate, and the motive is usually related to money. For instance, semiconductor companies are subject to significant fines for sharing their IP to foreign countries without having a legally binding export license in place. The presence of a complete IP lifecycle management solution in place, such as Helix IPLM, can help to mitigate the risk and stop the leakage and misuse of this sensitive information.