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5 Steps to Protecting Intellectual Property

Strategy: The Secret World of Compliance Auditors

5 Steps to Protecting Intellectual Property 

Security is a balance between the effort required to keep something safe and the value of that something. When it comes to intellectual property, companies must determine what data is considered IP, decide what the loss or theft of that data would cost the company, label the data and secure the data. Meanwhile, staff members must be educated on an ongoing basis about what they are required to do (as established by clearly ­articulated policy) to keep IP safe. 

Even if executives have a clear understanding of how losing IP could indirectly cost the organization—in time, money and reputation—they may not prioritize data security because they don’t have an immediate, direct financial interest to do so, a situation not so different from where companies were with personally identifiable information several years ago. Then, companies weren’t doing much to safeguard personal data, but with increased regulation and legislation (not to mention a host of compromises of PII in organizations’ care), companies now have a financial interest in protecting PII. That’s where we need to get with IP. In this report, we will lay out the steps for identifying, prioritizing and securing your organization’s IP. (S5440712)

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