TRADE SECRET THEFT CONTINUES UNABATED

One of the biggest cyber threats that many US companies face is theft of their intellectual property (IP). This includes trade secret, patents, software and copies of tangible goods. The recently released Update to the IP Commission Report gives tangible, current information on all four categories. The original report was published in 2013 amidst headlines about Chinese cyber attacks on US businesses. The conclusion of the February 2017 update report is that IP theft continues, although the headline grabbing thefts may have dropped off. Not all intellectual property results exclusively from a cyber attack, although most thefts are cyber enabled.The most notable report points related specifically to trade secret theft are:Total loss to US economy in the range of $180 $540 billion per yearIP intensive firms responsible for 35% of jobs in US labor forceNo evidence that China has stopped hacking US firmsThe updated report also includes recommendations, including those for improved c…

*** This is a Security Bloggers Network syndicated blog from Security Connections authored by Fred Scholl. Read the original post at: https://www.monarch-info.com/blog_direct_link.cfm?blog_id=64325&TRADE-SECRET-THEFT-CONTINUES-UNABATED