Intellectual Property Leaks
The long-term impact of leaking private or IP data can affect the development of business as well as financial stability and competitive advantage. The ability to be able to identify and respond to these kinds of attacks is crucial for businesses of all sizes to stay ahead of competitors, reduce the impact on their bottom line and restore their reputation after an incident that was damaging.
Intellectual property is broad term that refers to the human minds, such as inventions, literary and artistic works. It also includes designs, names, or symbols that are used in commerce. On an even more practical level, intellectual property is the term used to describe confidential information that gives companies an advantage in competitive markets such as computer programs, business processes manufacturing methods and client lists.
These assets are often intangible, and their value is not always quantified or recognized. However they are nonetheless important assets for businesses that need to be protected. In the past, potential thieves had to snare an object (say a blueprint or a client list) to steal intellectual property. However, thanks to digitalization it is now easy and cost-effective for cybercriminals to steal these valuable assets.
A majority of these thefts occur due to human error, like sending confidential documents to the wrong person, or losing a device containing sensitive information. However, some are deliberate, and often the motive is money. For example, semiconductor manufacturers are subject to significant fines for divulging their IP to foreign countries without having a legally binding export license in place. Having a complete IP lifecycle management system in place like Helix IPLM will help to reduce these risks and avoid the leakage of this highly sensitive information.
