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Hi. My name is Roger. Today I’d like to talk to you about a few strategies to protect intellectual property within your business. Now, a lot of small medium business, not for profit organizations, even larger businesses do not believe they have intellectual property or trade secrets. So why should they protect them?
Well a small business is tendering and their competition finds out what process they’re going to use, they’ve probably lost the tender. A large business has trade secrets on how they make a widget and that information gets out then that is a problem for not only you because you haven’t spent a lot of time on R&D to get it to the level where it’s now a marketable item, some come along and go, well we got have enough to pay for R&D and it’s only going to cost us $20 to make a widget but you’re selling for $200.
So we’ll sell it for $50, we’ll make $30 profit and the cut for people who actually came up with the idea and everybody loses, except for them. And you know how a situation it is. So we have to protect that information both externally and internally. Now protecting it from the external person is relatively easy. It’s not actually but it’s complicated. And the reason why you need to kind of protect it is because that intellectual property is your business. And if you don’t protect the information that you require as part of your core business then you have a problem.
What about inside? Someone who has, who goes out of their way to destroy information that you hold. Or even worse, plugs in a USB drive and walks out with it. And this is where segmentation of information is really critical to having to do business. Because the accountant doesn’t need to know how to access the widget-maker. And the widget-maker definitely doesn’t need access to the accounts – about who’s buying and who’s selling the information.
All he needs to know is he’s run out of x number of parts and he has to put an order in and the accounts will pay for it. And that is what the intellectual property of a business is really all about – to make sure that the business goes forward without having to worry about things being stolen. And that is what your business needs to know.
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