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

Intellectual What Experts Say About the iBabs Board Portal Property Leakage

The consequences of private and IP data leakage could have a long-lasting impact on business innovation as well as financial stability and competitive advantage. A solution to 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 reputation after an incident that was damaging.

At a high level intellectual property refers to human-made creations such as inventions literary and artistic works or symbols, names or designs that are used in commerce. However, at the more practical level intellectual property is the term used to describe confidential information that provides companies with a competitive advantage like business processes, computer programs manufacturing methods and client lists.

These assets are usually intangible and their value isn’t always quantified or acknowledged. However they are nevertheless important assets for businesses that must be secured. In the past, potential thieves needed to grab physical objects (say blueprints or a client list) in order to take intellectual property, but due to the digital revolution, it has become much easier and more cost-effective for cybercriminals to appropriate these valuable assets.

Human error is responsible for the majority of these thefts, like sending confidential documents to the wrong person or losing a device with sensitive information. But others are intentional, and usually the motive is financial. For instance, semiconductor companies could face substantial fines for release of their IP outside of the country without having a legally binding export license in place. A complete IP lifecycle solution like Helix IPLM, can reduce these risks, and also stop leakage of highly sensitive information.