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Intellectual Property Leakage
The long-term consequences of leaks of private or IP data can affect the business’s innovation as well as financial stability and competitive advantage. A solution to accurately detect and respond to these kinds of attacks is crucial for businesses of all sizes to stay ahead of the competitors, limit the impact on their bottom line, and restore their image following a damaging incident.
Intellectual property is a broad term referring to human minds, such as inventions, literary and artistic works. It also covers designs, names, or symbols that are used in commerce. On a more practical level, intellectual property is the term used to describe confidential information that provides companies with an advantage in competitive markets such as computer programs, business processes manufacturing techniques, and client lists.
The value of these https://boardroomate.com/how-to-set-up-your-data-room-for-due-diligence-in-one-minute/ assets could be intangible and not always identified or quantified, however it is a crucial asset for a business that must be protected. In the past, potential thieves needed to pinch a physical artifact (say a blueprint or a client list) to take intellectual property, but with the advent of digital technology it is now easier and more cost-effective for cybercriminals and hackers to take over these valuable assets.
Human error is responsible for some of these thefts such as sending confidential information to the wrong person, or losing a device that had sensitive information. Some are intentional and the motive is often monetary. Semiconductor producers, for instance could face severe penalties if they share their IP outside of the country without a deemed-export license. A complete IP lifecycle management solution in place, such as Helix IPLM can help mitigate the risk and stop the leakage of this sensitive information.
