How Intellectual Property Leaks Affect Business Innovation, Financial Stability, and Competitive Advantage

Intellectual Property Leakage

The repercussions of private or IP leaks of data could have a long-lasting impact on business innovation, financial stability, and competitive advantage. Having a solution in place to detect and respond to these types of attacks is crucial for businesses of all sizes to stay ahead of the competitors, limit the impact on their bottom line Virtual Board Rooms and improve their standing after an unfortunate incident.

At a higher level intellectual property refers to human brain-generated creations like inventions, artistic and literary works such as names, symbols, or designs that are used in commerce. Intellectual property is more practical and includes private information that gives businesses a competitive edge like business processes.

The value of these assets could be intangible and may not be measured or recognized, but it is a crucial asset for a business which must be secured. In the past, thieves would have had to steal an object of physical nature like the blueprint or client list to steal intellectual property. However, with the advent of digital technology cybercriminals can now easily and cost-effectively steal these valuable assets.

A majority of these thefts occur caused by human error, for instance, sending a confidential document to the wrong person or the loss of a device that contained sensitive information. Some are deliberate, and often the motive is money. For instance, semiconductor makers are subject to significant fines for sharing their IP outside of the country without an export license that is deemed in place. A complete IP lifecycle solution such as Helix IPLM, can mitigate these risks and prevent leakage of highly sensitive information.