First, we need to understand what Intellectual property (IP) means,
according to World Intellectual Property Organization, it refers to
creations of the mind, such as inventions; literary and artistic works;
designs; and symbols, names and images used in commerce (WIPO,
2022). Intellectual property has help companies to be able to protect
their inventions and works. Some types of intellectual properties are,
Trademarks, Patents, Copyrights, Trade secrets, Industrial designs and
Geographical indications.
Intellectual property theft is stealing or using without permission
someone else's intellectual property. This happens when someone
knowingly uses, misappropriates, takes, or steals property that falls
under the protection of laws around intellectual property. For
example, if someone copies the logo that belongs to another company
and knows that it belongs to someone else, this would be considered
intellectual property theft (Upcounsel, 2020).
What does it mean to Padgett-Beale intellectual property? This could
either be a threat to their gathered information, procedure and
processes. This kind of theft is very serious and everything must be
done to protect it. Some of the recommendations to make it difficult
for Padgett-Beale employees and executive to steal IP is first, Identify
the most valuable data and Review user access to IP (Ekran Systems,
2021). Once employees live, the company, Padgett-Beale does not
have control over them, therefore, during the time of termination,
Padgett-Beale should seize any ant access to company data and
documents. That will also help to protect the company’s IP. Some of
the problems of IP theft is financial loss, loss company secrets and loss
of inventions.
With advancement in technology, new ways/methods of storing and
transfer files and data, and also employees working remote, it has
become very harder for companies to manage their data against
activity such as intellectual theft. When new employees come on
board, it is important to have an on-boarding process, to train
employees on all of Padgett-Beal’s training policies and expectations.
Along with the training secessions, Padgett-Beal employees should
sign a Non-Disclosure Agreement (NDA), to assure their understanding
of the company’s policies and the legal actions of violating the terms
of the NDA. Lastly, there should be the need to make sure that
Padgett-Beale is monitoring all the data that being moved around the
organization, and scan employee’s devices before the leaving the
company. Padgett-Beale should implement the concept of least
privilege and also separation/segregation of duties.
Practices which Padgett-Beale should implement is,
Educations – Employees should be educated/train to know the
consequences when IP is stolen and the company stand to lose, also
the impending hefty fine that will be impose on any one that is caught
stealing the company’s IP or serving a jail term.
Prevent potential activities - Apart from monitoring users, you should
also leverage advanced technologies that can help you immediately
prevent potential threats.
Monitor Employees - Continuous employee monitoring helps
businesses make sure all users work securely within the corporate
network.
Establish a data security policy - A strong cybersecurity policy ensures
the protection of corporate assets and sensitive data, including
intellectual property, by setting rules that your employees should
follow.
In Conclusion, Padgett-Beale should not think that anyone in their
company cannot steal the company’s secrets, they should implement
strict policies that will prevent such thefts and also lay out the
consequences of trying to steal the company’s secrets. Again, their
oversees offices same rules and regulations should apply especially
when it comes to IP thefts.
References
www.WIPO.int
