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

Intellectual Property Leaks

The repercussions of private and IP data leakage can have long-term effects on business innovation as well as financial stability and competitive advantage. Companies of all sizes require an effective method to identify and respond appropriately to such attacks to stay ahead of rivals, minimize their impact on their bottom-line and restore their image after a negative event.

Intellectual property is a broad term that refers to the humans, like inventions, literary and artistic works. It also covers names, symbols or designs that are used in commerce. On the more practical level intellectual property encompasses private information that can give companies an edge in competition, like computer programs, business processes manufacturing methods, and client lists.

These assets are usually intangible, and their value isn’t always quantified or recognized. However, they are still important assets for a company which must be protected. In the past, criminals would have needed to steal an object of physical nature such as a blueprint or client list to steal intellectual property. However, with the advent of digital technology cybercriminals can now easily and cheaply steal these valuable assets.

Most of these thefts are due to human error, such as sending confidential documents to the wrong person, or losing a device containing sensitive information. Some are intentional, and the motive is typically related to money. Semiconductor manufacturers, for example could be subject to severe fines if they release their IP outside of the country without a deemed-export license. A complete IP lifecycle solution like Helix IPLM, can reduce these risks and prevent leakage of sensitive information.

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