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KSM Blog | Katz, Sapper & Miller CPA

Intellectual Property Thieves Hit Manufacturers

Posted 7:09 PM by



Manufacturers are concerned with theft of their products and small tools, but they aren’t typically concerned about theft of their intellectual property. Should they be?

Based on the results of a survey conducted by security firm Kaspersky Labs, Computer Weekly reports that one in five (21%) manufacturing companies reported a loss related to intellectual property (IP) thefts.

Almost 4,000 IT managers in 27 different countries responded to the survey. Based on the results, malware was the culprit for 23% of the most serious incidents. Other areas of concern are related to software vulnerabilities and network intrusion. Additionally, the survey found that 5% of information-related losses leaked through mobile devices. 

On the bright side, the survey found that only 3% of the incidents reported were considered to be targeted attacks on the company.

The survey shows that even manufacturers need to be apprised of IP security. What does your organization do to ensure the safety of your intellectual property?

About the Author
Justin Hayes is a director in Katz, Sapper & Miller’s Audit and Assurance Services Group. Justin works with clients to help ensure accurate financial reporting, keeping an eye on their bottom line, and helping them avoid risk and maximize efficiencies. Connect with him on LinkedIn.

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