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5 Steps to Protect Intellectual Property From Hackers

Intellectual property, business plans, and trade secrets are key to any manufacturer. Hackers also know the value of this data, as nearly half of all cyber attacks against manufacturers target intellectual property, according to a data breach investigation from Verizon Enterprise Solutions.

Getting everyone in your workplace to follow a strong cybersecurity plan is a central part of protecting your intellectual property. Here’s a five-step framework from the National Institute of Standards and Technology that you can use when creating a cybersecurity plan:

  1. Identify—Research cyber threats that may be unique to your business. Common manufacturing exposures include social engineering, third-party vendors and outdated software systems.
  2. Protect—Determine the most effective ways to manage your cyber risks based on your available resources. You can also consider using a third-party cybersecurity consultant if you don’t have a dedicated IT department.
  3. Detect—Instruct employees to immediately notify managers of any suspicious behavior. This can include unfamiliar emails, malfunctioning systems, missing devices or misplaced data.
  4. Respond—Have a system in place to immediately respond to cyber attacks and mitigate the damage. If you experience a data breach, you may also have to notify partners, law enforcement or other parties.
  5. Recover—All cybersecurity plans should detail how to restore operations and reduce the impact of cyber attacks. Incorporate what you’ve learned from past attacks into future plans.

When handling proprietary company information, it’s difficult to make a plan. Let Vanner Insurance help you,  contact Ralph Vanner to review a plan that works best for your company.