Intellectual Property Leakage

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. Implementing a solution to be able to identify and respond to these types of attacks is essential for businesses of all sizes to stay ahead of competitors, reduce the impact on their bottom line, and regain their image after an incident that was damaging.

At a higher level, intellectual property refers to ideas of the human mind like inventions, works of art and literature such as names, symbols, or designs that are used in commerce. However, at an even more practical scale, intellectual property encompasses private information that gives companies an advantage in the market, such as computer programs, business processes manufacturing https://vdrservices.blog/a-complete-overview-of-nasdaq-s-board-meeting-software/ techniques, and client lists.

These assets are often intangible and their value is not always quantified or recognized. However, they are still important assets for a business that need to be protected. In the past, would-be thieves had to take physical objects (say blueprints or a client list) to steal intellectual property. However, with digitalization, it has become much easier and more cost-effective for cybercriminals and hackers to take over these valuable assets.

Human error is responsible for some of these thefts such as sending confidential information to the wrong person, or losing a device that had sensitive information. Others are deliberate, and the motive is typically financial. For instance, semiconductor producers could face significant fines if they divulging their IP to foreign countries without an export license deemed to be in place. A complete IP lifecycle solution, such as Helix IPLM, can mitigate these risks and prevent leakage of sensitive information.