Intellectual Property Leaks

The repercussions of private and IP leaks of data can have long-lasting consequences on innovation in the business as well as financial stability and competitive advantage. Implementing a solution to be able to identify and respond to these kinds of attacks is essential for businesses of all sizes to stay ahead of the competitors, limit the impact on their bottom line and restore their reputation after an incident that was damaging.

At a high level, intellectual property refers to ideas of the human mind such as inventions, literary and artistic works such as names, symbols, or designs that are used in commerce. On an even more practical scale, intellectual property is the term used to describe confidential information that gives companies a competitive advantage like computer programs, business processes manufacturing methods, and client lists.

The worth of these assets can be intangible and may not be identified or quantified, however it is certainly an essential asset for a company that must be protected. In the past, criminals were required to steal an object Virtual Board Rooms of physical nature such as an outline or a client list, to steal intellectual property. However, with the advent of digital technology cybercriminals can now quickly and inexpensively steal these valuable assets.

A majority of these thefts occur due to human error, like sending a confidential document to the wrong person or losing a device with sensitive information. But others are intentional, and the reason is usually financial. Semiconductor manufacturers, for example could face severe fines if they release their IP outside of the country without a deemed export license. The presence of a complete IP lifecycle management solution in place like Helix IPLM can help mitigate the risks and ensure that there is no the leakage and misuse of this sensitive information.