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

Intellectual Property Leaks

The repercussions of private and IP leaks can have long-term effects on innovation in the business, financial stability, and competitive advantage. All businesses require a way to recognize and respond appropriately to such attacks to stay ahead of competitors, limit the impact on their bottom line, and restore their image after a disastrous incident.

At a higher level intellectual property is the creations of the human mind like inventions literary and artistic works or symbols, names or designs used in commerce. However, at a more practical level, intellectual property includes confidential information that gives companies an advantage in competitive markets like computer programs, business processes manufacturing techniques, and client lists.

The value of these assets may be intangible and may not be measured or recognized, but it is a crucial asset for a business which must be secured. In the past, criminals would have needed to take a physical artifact like a client list or blueprint to steal intellectual property. With the advent of digital technology, cybercriminals can now easily and affordably take these valuable assets.

A lot of these thefts are caused by human error, like sending confidential documents to the wrong person or losing a device containing sensitive information. Some are intentional and the motives are usually related to money. For instance, semiconductor companies could face significant fines if they release of their IP outside of the country without an export license deemed to be in place. Having a complete IP lifecycle management solution in place like Helix IPLM can help reduce these risks and prevent the leakage of this highly sensitive information.

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