Intellectual Property Leaks
The long-term ramifications of leaks private or IP information can impact the innovation of businesses as well as financial stability and competitive advantage. Businesses of all sizes need a solution to detect and respond quickly against these kinds of attacks to stay ahead of competitors, limit the impact on their bottom line, and restore their image after a negative incident.
Intellectual property is a broad term referring to the creations of minds of humans, such as inventions, artistic and literary works. It also includes names, symbols or designs that are used in commerce. Intellectual property is more practical and contains 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 acknowledged. However they are nonetheless important assets for businesses which must be protected. In the past, potential thieves had to snare a physical artifact (say blueprints or a client list) to steal intellectual property. However, due to the digital revolution it is now easy and cost-effective for cybercriminals and hackers to take over these valuable assets.
A lot of these thefts are due to human error, for instance, sending a confidential document to the wrong person or losing a device that contains sensitive information. Others are deliberate, and the motives are usually money-related. For instance, semiconductor makers could face substantial fines for sharing their IP across borders without a deemed export license in place. A comprehensive IP lifecycle management solution in place like Helix IPLM can help mitigate the risk and stop the leakage of this highly sensitive information.
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