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

Intellectual Property Leakage

The repercussions from private and IP leaks of data can have long-term effects on innovation in the business, financial stability, and competitive advantage. The ability to quickly detect and respond to these types of attacks is crucial for all businesses to stay ahead of competition, minimize the impact on their bottom line, and regain their image after an unfortunate incident.

Intellectual Virtual Board Rooms property is a broad term that refers to the human minds, such as inventions, artistic and literary works. It also includes symbols, names or designs that are used in commerce. On the more practical level intellectual property includes private information that can give companies an advantage in the market, like computer programs, business processes manufacturing methods and client lists.

The value of these assets can be intangible, and therefore not always assessed or quantified, but it is certainly an important asset for a business that must be protected. In the past, would-be thieves needed to grab an object (say the blueprint or client list) in order to steal intellectual property. However, thanks to digitalization it is now easy and cost-effective for cybercriminals to appropriate these valuable assets.

A majority of these thefts occur caused by human error, like sending confidential documents to the wrong person, or the loss of a device that contained sensitive information. Others are deliberate, and the motive is typically money-related. Semiconductor manufacturers, for example could be subject to severe penalties if they divulge their IP outside of the country without a deemed-export license. A complete IP lifecycle management solution in place, such as Helix IPLM will help to reduce these risks and avoid the leakage and misuse of this sensitive information.