Category: Blog

By definition, Intellectual property (IP) refers to creations of the mind that are the result of human creativity and intellect. It includes a wide range of intangible assets, such as inventions, designs, symbols, literary works, artistic creations, and trade secrets. Intellectual property grants exclusive rights to the creators or owners, allowing them to control and protect their creations from unauthorized use or exploitation by others. These rights can be legally enforced, enabling the creators to benefit financially from their innovations and creations.

Insider threats have always been a major concern for businesses and the situation is becoming more complex as technology is rapidly evolving and cyber threats are becoming more sophisticated. In fact, insider threats increased by 44% in 2022. And, due to various factors such as economic instability, organizational changes, and the growing sophistication of attacks, the number of cyber incidents caused by insiders is expected to go higher.

A threat actor refers to any individual, group, or entity that poses a potential risk or threat to the security and integrity of computer systems, networks, or digital assets of a person, a company or an organization. These actors can vary widely in their motives, skills, and resources.

Data protection refers to the process of safeguarding data from compromise and loss, and preserving its privacy, confidentiality, integrity, and availability. It involves implementing measures and protocols to prevent unauthorized access, use, disclosure, alteration, or destruction of data.

As data breaches become more frequent and severe, it’s crucial for companies to prioritize their data security measures to avoid facing substantial fines and penalties. In fact, according to the Ponemon Institute, the projected average cost of a data breach is set to reach approximately $5 million in 2023. This marks an increase from $4.35 million in 2022 and $4.24 million in 2021.
Data breaches often result in severe consequences such as penalties and fines.

Here are the top 7 Data Breach Fines, Penalties, and Settlements to Date

In today’s digital era, collecting data has become an essential component of every business strategy. From small startups to large organizations, data play a critical role in helping businesses make informed decisions and evolve their operations. In fact, in a survey conducted in 2021, 37.8% of business executives said they believe their companies were data-driven.