Intellectual Property Leaks
The repercussions of private and IP leaks can have long-term effects on innovation in the business, financial stability, and competitive advantage. Implementing a solution to 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 improve their standing after an unfortunate incident.
At a high level, intellectual property refers to ideas of the human mind such as inventions, works of art and literature, symbols, names, or designs used in commerce. Intellectual property is more practical and contains confidential information that can give businesses a competitive edge like business processes.
These assets are usually intangible, and their value is not always quantified or acknowledged. However they are nevertheless important assets for a company that must be secured. In the past, criminals were required to steal physical items such as a blueprint or client list for theft of intellectual property. But with digitalization, cybercriminals are now able to easily and affordably steal these valuable assets.
A lot of these thefts are caused by human error, like sending a confidential document to the wrong person, or the loss of a device that contained sensitive information. Some are intentional, and the motives are usually related to money. For instance, semiconductor producers are subject to significant fines for releasing their IP across borders without a deemed export license in place. Having a complete IP lifecycle management solution in place like Helix IPLM can help mitigate these risks and prevent leakage of this highly sensitive information.
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