Intellectual Property Leakage
The long-term consequences of leaks of private or IP information can negatively impact the innovation of businesses as well as financial stability and competitive advantage. Businesses of all sizes require a way to recognize and respond quickly to these types attacks to stay ahead of their competitors, reduce their impact on their bottom-line and restore their image after a disastrous event.
Intellectual property is an umbrella term that refers to humans, like inventions and artistic and literary works. It also encompasses designs, names, or symbols employed in commerce. Intellectual property is more practical and contains private information that gives businesses an edge in the market like business processes.
These assets are typically intangible, and their value isn’t often quantified or recognized. However they are nevertheless important assets for businesses which must be protected. In the past, potential thieves needed to pinch an item of physical value (say blueprints or a client list) in order to steal intellectual property. However, due to the digital revolution it is now cheaper and easier for cybercriminals to steal these valuable assets.
Human error is the reason behind the majority of these thefts, like sending confidential documents to the wrong person, or losing a device that had sensitive information. But others are intentional, and usually the motive is the pursuit of money. Semiconductor manufacturers, for example could be subject to severe penalties if they divulge their IP outside of the country without a deemed export license. Having a complete IP lifecycle management solution in place, such as Helix IPLM will help to reduce the risk and stop the leakage of this highly sensitive information.
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