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

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Intellectual Property Leaks

The long-term impact of leaking private or IP information can negatively impact the innovation of businesses as well as financial stability and competitive advantage. Businesses of all sizes require an effective method to identify and respond accurately against these kinds of attacks to stay ahead of their competitors, reduce their impact on their bottom-line and to restore their image after a negative incident.

At a high level, intellectual property refers to creations of the human mind like inventions, artistic and literary works and names, symbols, or designs that are used in commerce. Intellectual property is more practical and contains confidential information that provides businesses with an edge over competitors in business processes, for example.

These assets are typically intangible and their value is not often quantified or recognized. However, they are still important assets for a business which must be protected. In the past, criminals would have had to steal physical objects, such as an outline or a client list, to steal intellectual property. However, with the advent of digital technology cybercriminals can now easily and affordably steal these valuable assets.

Most of these thefts are caused by human error, such as sending confidential documents to the wrong person or losing a device that contains sensitive information. Others are deliberate and the motive is typically monetary. For instance, semiconductor producers can face significant fines for releasing their IP to foreign countries without having a legally binding export license in place. A complete IP lifecycle solution such as Helix IPLM, can reduce these risks and prevent leakage of highly sensitive information.