Tips to Protect Your Company Against Intellectual Property Theft

All businesses have sensitive data that must be protected, whether it’s a new product design, project blueprints or financial information. This information is so critical that suffering a data breach could quickly lead to disastrous consequences. For manufacturers with complex supply chains, there are many places where a business’s crown jewel, its intellectual property (IP), can be compromised.

With high-profile breaches making regular headlines, it’s now more important than ever that manufacturers take proper precautions to safeguard their sensitive IP, which includes patents, designs, formulas — whatever a manufacturer holds near and dear. In fact, a recent study found that more than one in five manufacturing firms reported a loss of IP in a cyber-attack last year alone. In addition, the survey revealed that IP and internal operational information are the two types of data that manufacturers fear losing the most.

To avoid data loss and protect against IP theft, below are some tips that will help manufacturers keep their most valuable asset safe from attackers:

Get Legal Help

Get help from a intellectual property lawyers adelaide who specializes in intellectual property laws and copyright laws so that you are well aware of your rights. In case of a security breach or your IP security is compromised, such a lawyer can also advise about how to minimize the damages and file charges against the perpetrators.

Identify the Most Valuable Data Assets

It’s not uncommon for a business to have no idea where their valuable data is stored and who has access to it. Companies must know exactly what their IP and trade secrets are if they want to prevent them from being stolen.

Once sensitive data is identified, label it. Mark all critical assets as “internal only” or “confidential.” Whether the document is digital or paper-based, this is the quickest and easiest protection method one can place. It provides employees with a visual cue to treat the document with care, and employees are often the ones targeted by attackers.

There are also additional technologies that you can employ to ensure your trade secrets stay that way. From encryption to content inspection, from persistent document tagging to policy-driven data protection, there are numerous approaches to ensure data flows on a need-to-know basis.

Invest in a Strong Data Protection Solution

Cybercriminals now run a fully monetized operation and will not relent in their attacks — they’re only becoming more creative in the ways they target corporations, which includes more clever social engineering attempts, new types of vulnerability exploits or by trying to compromise a business partner or third party that has access to the parent company’s network. Just because attacks are inevitable doesn’t mean losing sensitive data is — consider investing in a strong data protection solution that enforces policies to protect data while in use, in transit and at rest throughout its entire lifecycle.