Cybercriminals are increasingly targeting intellectual property

May 20 2019      On Behalf of  David M. Duree & Associates, P.C.      Intellectual Property Litigation

You’ve taken a multitude of steps to protect your company’s intellectual property (IP). You have nondisclosure agreements in place. You’ve trained your employees on the risks of disclosing information to those not authorized to have it. However, your IP could still be at risk of theft by cybercriminals continue to target intellectual property.

Companies are spending more money than ever on security technology and on educating their workforce, and information technology (IT) security professionals have grown more adept at fighting cyberthreats. However, according to McAfee, a leading cybersecurity company, over 60 percent of these professionals report that their current employers have suffered a data breach.

One McAfee executive notes that companies need to develop a “holistic” approach to fighting cyberbreaches. She says, “Organizations need to augment security measures by implementing a culture of security and emphasizing that all employees are part of an organization’s security posture, not just the IT team.” She talks about the importance of “practicing good security hygiene.”

According to a McAfee report, cybercriminals are using a wide range of techniques for stealing data. IP has become one of the leading data categories targeted, along with personal data. IP theft, of course, can pose a significant threat to a company’s brand, reputation and financial health. Because most data breaches must be disclosed to the public, companies face additional damage as well as the risk of litigation when they report these breaches to the public.

Some people may assume that increasing the storage of information in the cloud leads to data leakage. However, just one-third of breaches involve data in the cloud. The other two-thirds are of data located on traditional networks.

If you’ve been the victim of a data breach and your intellectual property has been stolen, it’s wise to consult with an experienced attorney. They can help you determine your best next steps.