Monday, February 16, 2009

Recession hits Intellectual Property

Global Security company McAfee has recently concluded in its findings that businesses loose more than a trillion dollars in Intellectual Property due to data thefts and cyber crimes. According to the findings of Mc Afee companies lost more than US$ 4 billion  of Intellectual Property and spent more than US $ 600 million for repairing the damage caused by data thefts last year.

In the present circumstances there is a high risk of Intellectual Property being lost or stolen for example confidential data of firms might be stolen, as many financially challenged employees who have access to such information, would steal such information and sell it in the open market

Countries like India and China are spending more amounts of money in order to control this threat than the western countries.

1 comment:

Paper N Pencil said...

Data Protection is more of a contractual obligation in India, in the absence of a specific data protection act.

Cheers....Viji