McAfee Study Shows IP More at Risk During Recession

We continue to follow the discussion regarding the threat to intangible property caused by the recession.  While the information assurance industry is large and has always been vital to the information economy, company executives are increasingly aware of a relatively new security threat to intangible assets, particularly intellectual property: laid-off employees, disgruntled or just desperate to pay the bills. McAfee commissioned an excellent report titled Unsecured Economies: Protecting Vital Information from information assurance professors at Purdue University and the Center for Education and Research in Information Assurance and Security (CERIAS). A few highlights that relate to 2i topics follow:

• Thirty nine percent of respondents surveyed believe vital information is more vulnerable in the current economic climate than before.
• Intellectual property is now an international currency and is increasingly the target of organized cybercriminals.
• Forty two percent of respondents said displaced employees were the biggest threat to vital information. As the global recession continues and legitimate work disappears, desperate job seekers are stealing valuable corporate data, which may be seen as desirable by potential future employers, to make themselves more valuable in the job market.
• Thirty-nine percent of respondents said their biggest concern was protecting their intellectual property from outside data thieves.

The report also offers a concluding section on suggested best practices for protecting valuable intangibles. Along with the standard recommendations — such as write solid contracts with security provisions for outsourcers, invest in the proper IT solutions, and increase employee training and awareness – one point stands out, at least in our experience, as being vitally important but often disregarded: Enforce policies with employees and contractors, helping them to understand the criticality of safe business practices, and cracking down when policies and rules are breached.

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Filed Under Intangible Assets, Intellectual Property, Recession