Intellectual Property Leaks
The long-term ramifications of leaks private or IP data can affect the development of business financial stability, competitive advantage. Businesses of all sizes need an effective method to identify and respond appropriately against these kinds https://boardroomate.com/how-to-set-up-your-data-room-for-due-diligence-in-one-minute/ of attacks to stay ahead of their competitors, reduce their impact on their bottom-line, and restore their image after a damaging incident.
At a higher level intellectual property refers to human brain-generated creations like inventions, works of art and literature such as names, symbols, or designs used in commerce. Intellectual property is more practical and includes confidential information that provides businesses with an edge in the market, such as business processes.
These assets are typically intangible, and their value is not always recognized or quantified. However they are nonetheless important assets for a company that need to be protected. In the past, thieves would have needed to steal physical objects like a client list or blueprint, to steal intellectual property. With the advent of digital technology, cybercriminals can now easily and cost-effectively take these valuable assets.
Most of these thefts are caused by human error, such as sending confidential documents to the wrong person or losing a device containing sensitive information. However, some are deliberate, and the reason is usually money. Manufacturers of semiconductors, for example are subject to heavy penalties if they share their IP outside of the country without a deemed export license. A complete IP lifecycle solution, such as Helix IPLM, can help reduce these risks and stop the leakage of highly sensitive information.