Get Out of My Head: 6 Ways to Protect Your Intellectual Property
Intellectual property—patents, trademarks, copyrights and trade secrets—may be more important to your business than tangible assets. As a member of tech industry, your organization churns out ideas constantly. And if someone catches on to that idea outside of your organization, it can be detrimental. There are various avenues you can take to protect your intellectual property from competitors and thieves. It’s estimated that intellectual property theft costs U.S. companies over $300 billion a year in lost revenue.
Understanding your intellectual property and how to protect it is essential for a business to be successful; however, protecting it must be done correctly to prevent losses from a cyber attack.
Protecting Your Intellectual Property
Failing to provide the sufficient amount of protection for your company’s intellectual property can lead to loss of financial potential and high legal fees. The following tips will help you keep your intellectual property safe:
- Your higher-level employees should know exactly what types of intellectual property your business has and understand ways to protect it. Educate them on what stolen property could mean in terms of your bottom line.
- Invest in legal counsel that specializes in protecting intellectual property. This makes a huge difference if your company’s intellectual property is ever compromised.
- Provide awareness training to all employees. If they’re made aware that all of their hard work and time spent on a project could go to waste when an idea is stolen, they may be more apt to follow important security measures.
- Keep your data secure by any means necessary. Lock storage rooms with sensitive data. Invest in firewalls and routers for your computer network. Install security cameras around various parts of the business.
- Dispose of documents properly. Shred before disposing—never throw whole documents into the dumpster. If you have insufficient means to do this, consider hiring a third party to do it for you.
- Think big picture. Suspicious activity around the office or on your computer network might mean nothing, but it could also be part of a bigger plan to steal your intellectual property. Take prevention seriously and treat every incident as important.
Finally, ensuring you hold an adequate policy to protect your intellectual property is essential. We know, it can be confusing and tricky. Chat with an ‘A’ Team member and keep your ideas in your own head.
- Cyber & Privacy Liability Series Webinar: Part 1
- Cyber & Privacy Liability Series Webinar: Part 2
- 10 Tips for Preventing Laptop Theft
- Cyber Liability E-Book
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