Intellectual Property Leaks
The long-term effects of leaks of private or IP data can affect the innovation of businesses, financial stability and competitive advantage. All businesses require an approach to detect and respond appropriately to these types attacks to stay ahead of competition, minimize their impact on their bottom-line, and restore their image after a disastrous event.
At a high level intellectual property is the creations of the human mind such as inventions, artistic and literary works, symbols, names, or designs used in commerce. However, at a more practical level, intellectual property covers confidential information that provides companies with a competitive advantage such as computer programs, business processes, manufacturing methodologies and client lists.
These assets are often intangible and their value isn’t always recognized or quantified. However they are nonetheless important assets for businesses which must be protected. In the past, thieves would have needed to take a physical artifact such as a blueprint or client list to steal intellectual property. However, with the advent of digital technology cybercriminals are now able to easily and affordably steal these valuable assets.
Human error is the reason behind many of these thefts, such as sending confidential information to the wrong person or losing a device that had sensitive information. However, some are deliberate, and often the motive is financial. Semiconductor manufacturers, for example, can face heavy penalties if they share their IP outside of the country without a deemed export license. A complete IP lifecycle management system in place like Helix IPLM can help mitigate the risk and stop the leakage of this sensitive information.
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