Receiving due credit and protection over one’s work has been a concern ever since humans began creating and inventing. Thankfully, modern day has brought with it a secure means of legal protection over intellectual property cases. Patenting offers complete intellectual property rights to the due party and presumed creator, while creating ramifications for those that violate the intellectual property agreement. It is an extremely wise precautionary measure for any business or enterprise owner to take. The following information explains the dangers of intellectual property theft and the importance of seeking due protection.
The Reality of Intellectual Property Theft
Theft of legal property has become very prominent and difficult to navigate around without secure protections in place. Indeed, many intellectual property cases deal in possible theft ramifications. The internet has brought with it an easier way to steal, as almost 25% of online traffic is used to consume stolen content. The internet is not to be totally blamed, however, as 9% of all products bought and sold worldwide constitute stolen goods or violate property rights of businesses, enterprises and U.S. corporations. What’s more, the investigation of intellectual property has been on a significant rise in the past 5 years, with intellectual property cases concerning theft rising by as much as 80.6% in 2010 and 23.2% in 2011. This is clearly a widespread problem that everyone who hasn’t gone through the patent process is at risk of facing.
The Common Causes of Intellectual Property Theft
By pinpointing frequent causations of this sort of theft, we can better navigate around the likelihood of it happening. Frighteningly enough, trusted business partners accounted for 17% of attackers against intellectual property rights, while former employees accounted for 21%. There is little discrepancy here, meaning that even employees, coworkers and colleagues might be the perpetrators of unprotected intellectual property theft. IP theft is another big concern, with 35% of it happening in Information and Technology, 13% in Banking and Finance and 12% in Chemical Industry sectors.
The Benefits of Intellectual Property Laws
Theft is definitely a concern that business and enterprise owners should take into consideration, but there are benefits that go beyond just basic legal protection. Copyright protection provides a basis to which creative workers are justly compensated, insuring that no one is denied the financial benefits that are due for their creations. Intellectual property laws stand to benefit everyone, even if one has no immediate concern for protection, as intellectual property accounts for a little over half of U.S. exports and helps to drive 40% of the nation’s economic growth.
Managing intellectual property and the concern for proper security is crucial to protecting business assets and seeing the U.S. economy thrive.