4 Ways Software Solutions Can Help You in the Management of Intellectual Property and Data

The way we handle our data matters, given the volume of attacks on intellectual property and data privacy.
5 mins read

And while the threats to personal and corporate data security continue to grow, the solutions made available to us increase as well.

There are over 3 million patent applications worldwide. This shows two things: how vast the intellectual revolution is now and how susceptible it can be to attacks. 

Implementing intellectual property software solutions will help anyone with data or IP to protect. That includes anyone from software startups, artists, musicians, authors, financial companies, and many others.

Common Intellectual Property and Data Threats

What threats should we be aware of to our IP and data? Here are three of the most common.

False claims

One significant concern in industries that deal with claims is identity fraud. This issue leads to financial losses. Insurance companies, banks, and other financial institutions suffer from this most. The total identity fraud losses from false claims rose to $56 billion in 2020 alone. However, IP management technology can protect financial institutions and other industries.

Piracy

Intellectual property piracy is a considerable concern for people in the creative space. Movies, music, books, and other intellectual data get distributed without their knowledge often. The war against these criminal attacks has long been ongoing.

Breaches and hacks

People are prone to breaches, whether it’s social media accounts, paid software, bank logins, or any data. The risk is even higher without the right security measures in place. Data that malware or malicious individuals might try to access could include any of the following:

  • Name
  • Address
  • Logins
  • Living situation
  • Race or ethnic origins
  • Political, religious, or philosophical opinions, beliefs, and so on
  • Private photos or files
  • Physiological or psychological data
  • Criminal history
  • And many others
  • Personal preferences and orientations

Ways Intellectual Property Software Help Protect You

Using intellectual property software is a smart way to protect a business or personal data. It puts automated parameters that keep your data and IP safe even when you’re offline. Think of it as using technology to act as police and put a cloaking mechanism on all your data and IP. Here are some ways that using an intellectual property software solution can provide extra protection.

Keep personal data private

Intellectual property protection can also apply at the individual level. Using data security software for protecting your data should become a more common practice amongst users in the coming years. One of the most common ways is to use a two-step authentication system to their logins. You can also store passwords and other sensitive information in an encrypted online ledger.

Protect creative property

A professional with a video game designer degree, art background, photography career, book, online course, film or any form of creative expression needs to prioritize property protection. All creators are prone to piracy and thus must be ready for it no matter how small or big their brand might be.

The digital revolution has exposed all forms of art and creativity to chances of mass production and distribution. But innovators have started using blockchain to add digital certificates to artworks. This helps to verify their authenticity and avoid piracy. Non-fungible tokens have been the prime example of this expression. Intellectual property software can also work on movies, podcast episodes, and audiobooks. These tools can help store digital footprints of audio and video files to create an immutable ledger that proves if a copy is authentic or not.

Authenticate products in the supply chain

Fake products and piracy aren’t only limited to digital products. Even physical and tangible goods face authenticity issues. Businesses can use blockchain IP software as one of the ways to protect intellectual property. For example, companies can authenticate a manufacturing process by adding notes into a digital ledger through a scanning system.

Companies in the food supplement industry use this blockchain authentication. They then add the code on the packaging for end-users to scan before consumption. A strategy like this verifies whether a bottle contains authentic products by bumping the product off with the virtual ledger.

Authenticate legitimacy of documents

On top of using intellectual property management software and blockchain to protect your data, they can also authenticate documents. Those documents can include certificates, approval forms, contracts, and other legal documents. With blockchain solutions, these documents can carry the same ledger-registered codes. People can scan to prove if it's legitimate or not. We’re not far from a future where institutions can use this technology on diplomas, checks and tenders.

Is Intellectual Property Management Software Worth the Investment?

The best IP management software can sometimes come with a corresponding cost. Online security is a cost worth paying for, seeing that it avoids chances of any future data breaches. Doing so protects one from potentially losing more due to security breaches. So don’t hesitate to pick up a data and intellectual property protection tool.

Tags

brand protection
Data Privacy
fraud

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