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

Intellectual Property Leaks

The long-term effects of leaks of private or IP data can affect business innovation, financial stability and competitive advantage. All businesses require a way to recognize and respond accurately to such attacks to stay ahead of their rivals, minimize their impact on their bottom-line and to restore their image after a damaging event.

Intellectual property is a broad term that refers to the creations of humans, like inventions and literary and artistic works. It also encompasses designs, names, or symbols used for commerce. Intellectual property is more practical and includes confidential information that can give businesses an edge in competition in business processes, for example.

The worth of these assets can be intangible, and therefore not always measured or recognized, but it is definitely an important asset for a business that must be protected. In the past, would-be thieves needed to grab a physical artifact (say an outline or a client https://vdrservices.blog/a-complete-overview-of-nasdaq-s-board-meeting-software/ list) to steal intellectual property, however with the advent of digital technology it is now simpler and less costly for cybercriminals to steal these valuable assets.

Many of these thefts are due to human error, such as sending confidential documents to the wrong person or losing a device containing sensitive information. Others are deliberate, and the motive is usually related to money. For instance, semiconductor makers could face significant fines if they release of 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 reduce these risks and prevent leakage of sensitive information.