Intellectual Property Leaks
The long-term consequences of leaks of private or IP data could impact the development of business financial stability, competitive advantage. Having a solution in place to accurately detect and respond to these kinds of attacks is essential for companies of all sizes to stay ahead of competitors, limit the impact on their bottom line, and restore their image following an incident that was damaging.
Intellectual property is a broad term that refers to the creations of human minds, such as inventions and literary and artistic works. It also covers names, symbols or designs that are used in commerce. On the more practical level intellectual property is the term used to describe private information that can give companies an advantage in the market, like business processes, computer programs, manufacturing methodologies and client lists.
These assets are often intangible and their value is not always quantified or recognized. However they are nonetheless important assets for a business that must be secured. In the past, potential thieves had to take an item of physical value (say blueprints or a client list) in order to steal intellectual property, however due to the digital revolution, it has become much easier and more cost-effective for cybercriminals to appropriate these valuable assets.
Human error is the reason behind many of these thefts, such as sending confidential information to the wrong person, or losing a device that contained sensitive information. Some are intentional and the motive is often financial. For instance, semiconductor producers could face significant fines if they divulging their IP outside of the country without an export license deemed to be in place. A complete IP lifecycle solution, like Helix IPLM, can mitigate these risks and prevent leakage of sensitive information.
https://heraldinsurance.co.uk/the-new-standard-for-data-security-leveraging-virtual-data-rooms/