The combination of increasing global competition and changes in the economic environment have influenced the development of business models where Intellectual Property (IP) is a central element establishing value, differential in the market and overall long-term viability for businesses in Lincolnshire and beyond. IP is the ‘life-blood’ of high-tech organisations and can be worth upwards of 85% to the business, according to theonebrief1. Yet, many businesses still fail to understand the threats their IP faces and the strategies to secure it. As such, this blog outlines how high-tech business can protect their most valuable assets.
Strategies For Securing IP
When you read cyber security related stories in the news, then you will have most probably heard about the increasing severity and sophistication of cyber attacks. Threat actors are diversifying their attack methods and deploying new techniques to target high-tech businesses digital infrastructure and the highly valuable data ‘crown jewels’ that they store. In fact, the chances are, threat actors are already running undetected software on the network of some high-tech businesses which lack the solutions designed to mitigate advanced attacks.
Phase 1: Asset Location
The first step in protecting IP stems from identifying where it is stored, on what devices and through what network. This can be achieved by conducting an Internal IP Audit which will help outline where your potential risks lie. By identifying systems which contain key assets, not only those housing IP, high-tech business will achieve a holistic overview of their threat landscape and the vulnerabilities in their information security infrastructure.
Phase 2: Employees
Once your business has identified where your IP and critical assets are stored, it is imperative to understand who has access to it. This can be conducted through domain controls which act as the gatekeeper to all business information. It is recommended privilege levels are allocated based on business need and ‘Least Privilege’. Employees should only be provided with the absolute minimum access rights, permissions to systems, services, information and resources that they need to fulfil their business role.
Phase 3: IT Hygiene
Having an effective routine cyber hygiene procedure in place will best-protect your business from threats it can control. As such, a hygiene first approach to security architecture gives high-tech businesses full visibility into its IT environment. Best practices include up-to-date patching procedures, clear segmentation, and user privilege management (regular removal of old users). Poor IT hygiene can leave high-tech businesses exposed to potential blind spots which can be leveraged by threat actors.
Applying a “hygiene first” approach to security architecture gives you full visibility into your IT environment and helps you address and eliminate potential blind spots.
Phase 4: Partnering with an MSSP
Investing into a Managed Service Security Provider, such as KryptoKloud, will provide a holistic answer to high-tech businesses IP and wider cyber security concerns. With a 24/7 ‘eyes-on-glass’ approach, KryptoSOC 360 is our unique Extended Detection Response (XDR) capability that is able to spot vulnerabilities and remediate them within seconds. Offering capabilities ranging from folder monitoring, patch and device management to firewall security, KryptoSOC 360 puts you back in control of your digital assets.
To learn more about KryptoSOC 360 click here.