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

Intellectual Property Leakage

The repercussions of private and IP leaks can have long-lasting effects on innovation in the business, financial stability, and competitive advantage. Businesses of all sizes need an effective method to identify and respond appropriately to such attacks in order to stay ahead of their competition, minimize their impact on their bottom-line, and restore their image after a disastrous incident.

Intellectual property is a broad term that refers to humans, like inventions, literary and artistic works. It also includes names, symbols or designs used for commerce. On an even more practical level, intellectual property covers private information that gives companies an advantage in the market, like computer programs, business processes manufacturing methods, and client lists.

These assets are usually intangible, and their value is not always quantified or recognized. However they are still vital assets for businesses that need to be protected. In the past, would-be thieves had to snare a physical artifact (say the blueprint or client list) to take intellectual property, but with digitalization, it has become much easy and cost-effective for cybercriminals to steal these valuable assets.

Most of these thefts are due to human error, for instance, 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 producers, for instance 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 such as Helix IPLM can help mitigate these risks and stop the leakage of sensitive information.

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