Intellectual Property Leaks
The consequences of private and IP data leakage can have long-lasting effects on innovation in the business as well as financial stability and competitive advantage. A solution to accurately detect and respond to these kinds of attacks is essential for businesses of all https://boardroomate.com/how-to-set-up-your-data-room-for-due-diligence-in-one-minute/ sizes to stay ahead of the competitors, limit the impact on their bottom line, and restore their image following an unfortunate incident.
Intellectual property is a broad term that refers to the minds of humans, such as inventions, literary and artistic works. It also includes names, symbols, or designs that are used in commerce. Intellectual property is more practical and contains private information that gives businesses a competitive edge in business processes, for example.
These assets are usually intangible, and their value is not always quantified or recognized. However they are still vital assets for businesses that must be safeguarded. In the past, thieves would have needed to steal an object of physical nature like the blueprint or client list to steal intellectual property. However, with the advent of digital technology cybercriminals are now able to easily and affordably take these valuable assets.
Human error is at the root of many of these thefts, like sending confidential documents to the wrong person or losing a device that had sensitive information. Some are intentional and the motive is usually related to money. For instance, semiconductor producers are subject to significant fines for divulging their IP across borders without a deemed export license in place. A comprehensive IP lifecycle management system in place like Helix IPLM can help reduce the risk and stop the leakage of this sensitive information.
