Intellectual Property Leakage
The long-term impact of leaking private or IP data could impact the development of business as well as financial stability and competitive advantage. Businesses of all sizes require a solution to detect and react quickly against these kinds of attacks to stay ahead of their competitors, reduce their impact on their bottom-line, and restore their image after a disastrous incident.
At a high level intellectual property is the human-made creations like inventions artistic and literary works, symbols, names, or designs used in commerce. Intellectual property is more practical and contains confidential information that gives businesses an edge in competition including business processes.
The worth of these assets can be intangible, and therefore not always measured or recognized, but it is definitely an https://boardroomate.com/how-to-set-up-your-data-room-for-due-diligence-in-one-minute/ important asset for a business that must be protected. In the past, criminals would have had to steal physical objects, such as a client list or blueprint for theft of intellectual property. With the advent of digital technology, cybercriminals are now able to easily and affordably take these valuable assets.
Most of these thefts are caused by human error, such as sending a confidential document to the wrong person, or losing a device containing sensitive information. Some are intentional and the motive is typically related to money. For example, semiconductor manufacturers could face significant fines if they release of their IP outside of the country without an export license deemed to be in place. A complete IP lifecycle solution such as Helix IPLM, can help reduce these risks and prevent leakage of sensitive information.