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How can you prevent intellectual property theft?

On Behalf of | Mar 31, 2022 | Intellectual Property |

Trade secrets, innovations, developments and original ideas are invaluable to modern businesses. Collectively, these are your business’s intellectual property.

Unfortunately, these things are so valuable that they are often the target of theft. As a business owner, you have rights if theft occurs; however, it’s best to prevent it. If you want to prevent intellectual property theft, use the tips here.

Know what your most valuable intellectual property is

If you don’t know what type of intellectual property you have, you can’t put systems in place to protect it. Because of this, take some time to itemize your intellectual property, which provides a foundation for protecting it.

Utilize contracts and agreements

Anyone who has access to your business’s intellectual property should sign some type of “secrecy” document. This could be a non-disclosure agreement or another contract regarding the secrecy of your IP.

Ensure employees are properly trained on security measures

Human error is one of the most common causes of issues with intellectual property. Because of this, you must ensure your employees are properly trained, monitor activity on business systems and invest in additional training as needed.

Identify gaps and weak areas in your cybersecurity

Sometimes, investing in ethical hacking can provide insight into how hackers may gain access to your intellectual property. Once you know the type of weaknesses present, you can fix the issue and better safeguard your IP.

Your legal options

Once intellectual property theft occurs, you have options. However, the process of securing what was once yours can be long and tedious, which is why preventing these situations is a better strategy. With the tips above, you can create a plan to ensure your intellectual property remains where it belongs