Intellectual property theft has to deal with the unauthorized access or
use for personal gain or profit of anything that is created by the
human mind that is protected by law, copyrights, or is patented.
Intellectual property or IP includes inventions, artistic and literary
productions, designs, items used in commerce such as images and
names, and creations of the mind (Intellectual theft: Everything you
need to know, 2020). State and federal laws protect intellectual
property. However, intellectual property is stored in a form that is
digital and sharable, making it susceptible to theft despite being easily
used. This type of theft has become more apparent mainly due to the
advancement of technology, and if there is a lack of concise
procedures and policies that should regulate the protection of IP in an
organization, the risk of increased potential threats could be greater
(Cooper, 2017).
d d An organization’s intellectual property is vital, and the
company could suffer significant damages if they are accessed or
otherwise disclosed to persons who do not have approval to its
access. Therefore, there should be adequate measures in place to
safeguard it, which can be achieved in various ways. In an effort to
ensure IP is properly secured, employees have a significant role to
play. Furthermore, Padgett-Beale needs to inform employees how
they are expected to handle information that is classified in a certain
way. They need to be able to realize, classify and protect IP as if they
are cognizant of the type of information that is important to the
company, they will be better equipped to assist in the safety effort
(Ashford, 2015).
d d Data classification is integral to the protection of IP.
Information needs to be classified into three different categories in
accordance with its sensitivity level, particularly, high, medium, and
low. Data classified in the high sensitivity category includes crucial
company information that, if inadvertently exposed or destroyed,
would have a significant effect on the person or organization (Ashford,
2015). Examples of this type of information include financial records
and authentication data. Medium sensitive data, such as documents
with no secret information, poses minimal risk to a company if
exposed to unauthorized individuals. Low sensitive data would pose
little to no risk if disclosed or accessed without permission. Classifying
data aids a company in understanding the intrinsic worth of the
information, deciding if the data is at risk, and applying mitigating
controls to address risks (Ashford, 2015). Gaining this understanding
as it relates to each type of data will enable the company to
implement the level of security that is required.
d d Separation of duties is the division of tasks into several
parts so that they can be assigned to and completed by more than one
individual (Ferroni, 2016). Padgett-Beale can obtain and sustain the
protection of their information and be in compliance with industry and
government regulations by implementing separation of duties within
the organization, for instance, assigning different roles among the
different departments. This would prevent any one department or
individual from having control of any particular intellectual property,
which could put the company at risk (Ferroni, 2016). The concept of
least privilege entails restricting users’ access to information and
resources and granting it only when absolutely required to do their
assigned role. Least privilege can be applied by the company to
processes, devices, and applications (Miller, 2021).
Best practices
Companies need to secure their IP for various reasons, namely, to
prevent another organization or individual from misusing their
invention or trade secrets and prevent significant business loss. Below
are some best practices the company can implement in an effort to
thwart the theft of intellectual property:
1. Employees should be educated about the organization’s policy on
protecting IP and how to apply it. Awareness training should be
conducted frequently and notified on how they could inadvertently
expose IP. They should be notified that such process, procedure, or
technology is being implemented, their feedback garnered, and
advised of the role they play in the security solution and the
importance of classifying information as correctly as possible once it is
created.
2. Construct an employee confidentiality agreement as an added
measure to protect trade secrets and other intellectual property. This
agreement should dissuade employees from sharing sensitive
information with outside parties, and if violated, legal action can be
taken against them.
3. Conduct periodic audits on the intellectual properties within the
company. Begin with the most vital things specific to the company and
industry, and once it’s identified, inquire about their location, who is
accessing them, and if the need is legitimate. These assets should be
labeled visibly and given the appropriate marking, so users are
encouraged to be careful and also prevents them from being shared
accidentally.
4. Intellectual property should be digitally and physically secured.
Databases should be password protected and encrypted. Rooms
containing sensitive information should be locked, access limited, and
a logbook used to oversee the keyholders.
5. Know the location of intellectual property. Establish procedures and
policies to purge documents from input/output devices, such as
printers and scanners, and safeguard them against unapproved access.
Monitor file-sharing and cloud applications and ensure services
approved by the company are set up correctly and secured.
In summary, IP theft is a growing problem, and it is therefore
imperative for Padgett-Beale to employ measures to safeguard their
intellectual property. In the event IP is stolen, regardless of the safety
protocols established, then the appropriate legal course of action
should be taken.
References
Ashford, W. (2015). What is data classification?: Best Practices & Data
types: Imperva. Learning Center. Retrieved from
https://www.imperva.com/learn/data-security/data-classification/
Cooper, C. (2017). Cyberespionage: Your intellectual property under
threat. CSO Online. Retrieved from
https://www.csoonline.com/article/3200608/cyberespionage-your-
intellectual-property-under-threat.html
Ferroni, S. (2016). Implementing segregation of duties: ISACA Journal.
ISACA. Retrieved from https://www.isaca.org/resources/isaca-
journal/issues/2016/volume-3/implementing-segregation-of-duties-a-
practical-experience-based-on-best-practices
Intellectual theft: Everything you need to know. (2020). UpCounsel.
Retrieved from https://www.upcounsel.com/intellectual-theft
Miller, M. (2021). What is least privilege & why do you need it?
BeyondTrust. Retrieved from
https://www.beyondtrust.com/blog/entry/what-is-least-privilege
