Intellectual Property Leakage
The consequences of private and IP leaks of data can have long-term effects on innovation in the business, financial stability, and competitive advantage. All businesses require a way to recognize and respond appropriately to such attacks to stay ahead of competition, minimize the impact on their bottom line and regain their image after a negative event.
At a higher level intellectual property is a term used to describe human brain-generated creations such as inventions works of art and literature, symbols, names, or designs that are used in commerce. Intellectual property is more practical and includes confidential information that gives businesses an edge in competition in business processes, for example.
These assets are typically intangible and their value is not always quantified or recognized. However they are nonetheless important assets for businesses that must be safeguarded. In the past, criminals would have had to steal a physical artifact, such as the blueprint or client list in order to steal intellectual property. However, with the advent of digital technology cybercriminals can now easily and cheaply steal these valuable assets.
Human error is at the root of many of these thefts, for example, sending confidential documents to the wrong person or the loss of a device containing sensitive information. But some are deliberate and usually the motive is monetary. For instance, semiconductor producers are subject to significant fines for divulging their IP outside of the country without a deemed export license in place. A complete IP lifecycle solution, like Helix IPLM, can help reduce these risks, and also stop leakage of sensitive information.
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