Intellectual property security ‘moves up Asian agendas’


September 17, 2013

As many Asian nations experience economic growth, the need to secure intellectual property is becoming more prominent.

This is an area of business that may have previously been overlooked, noted senior managing director at risk consultancy Kroll Tad Kageyama, but this is no longer the case.

With several Asian economies now experiencing economic expansion that is the envy of the rest of the world, there are more trade secrets that are worth stealing, he explained to the Wall Street Journal.

Businesses are now carrying out an increasing number of activities online, which means that secrets can be found in servers and computers, making them more accessible than ever to hackers.

Managers therefore need to take vulnerability management seriously if they are going to avoid falling victim to an attack that could prove costly to rectify.

Mr Kageyama stressed the need for companies to be more aware of their management of human resources, which includes due diligence when taking on new recruits in sensitive roles.

"For instance, for one client my firm checked the name of a proposed new hire against a government companies register and discovered he had established a competing company with several friends, including former employees of the company that was on the verge of hiring him," he commented.

This not only prevented the individual from being hired, but also gave way to legal action against the theft of intellectual property that had apparently already occurred.

One of the most prominent tools that companies have at their disposal is market intelligence, as it enables them to track the moves of their competitors during normal day-to-day business.

This should alert an organisation if an intellectual property theft had occurred, such as by identifying similar products or new patents being put forward for approval.

A recent panel discussion hosted by ZDNet Australia found that many IT officers believe their staff are one of the biggest threats to company security.

Employees at all levels need to be made aware of the protocols put in place to protect a company, many delegates said, which includes the various IT systems that have been implemented.
 

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