Intellectual Property Theft | Is the Cloud Vulnerable?

Being relevant and competitive in a global economy requires innovation. Successful businesses realize that innovation requires collaboration. To that end, cloud-based solutions allow for collaboration on projects despite differences in geographical location. But does using the cloud place your organization at risk for intellectual property theft? Let’s take a look.

What’s at Stake?

Trade secrets, patents, product designs, and ideas in development. Making all of these available across the devices and locations of various employees creates a potentially risky situation. Litigation over patent disputes, for example, can be astronomical.

Cybercrime experts suggest that more than a quarter of hackers seek IP rather than consumer identity or financial information. This means that your organization’s IP is vulnerable.

Intellectual Property Theft and the Cloud

Unfortunately, protecting IP is a bit tricker than preventing typical data breaches. Why? Most typical data breaches come from external sources—hackers seeking your clients’ information, for example. 

However, when the target is IP, according to a study conducted by Verizon, 49% of IP theft was due to either employee misuse or employee (current or former) malicious actors.

Tips to Protect Your Organization

• Remove access to the cloud from former employees.
• Restrict access to information stored in the cloud to each employees specific needs only. Make sure that you can use tiers, and enforce access levels.
• Train your employees to use the cloud responsibly—especially with regard to protecting security.
• Furthermore, encrypt all files. This prevents transmission of sensitive files if devices are lost or stolen.
• Maintain an audit trail within your cloud to monitor patterns of access and to alert security professionals to unauthorized access.
• Use Trustwire.

How Trustwire Protects Your Organization from Intellectual Property Theft

Trustwire uses the strongest open-sourced encryption to secure your files and messages. Furthermore, unlike other cloud-based solutions like Dropbox, Trustwire does not have access to your organization’s messages, files, or data. This further secures your IP.

Trustwire has unparalleled ease of use, meaning that your employees can quickly adjust to working with it. Furthermore, Trustwire is available on any device, anywhere in the world. Click here to earn more about how your business can begin protecting its valuable intellectual property with Trustwire.