Does your company know the value of your trade secrets?
For many organizations, the value of trade secrets is not fully realized until after they are stolen. As our recent blog post on trade secrets points out: a former Ford Motor Co. engineer copied 4,000 Ford documents onto an external hard drive and went to work for a competitor. Ford estimated that it suffered more than $50 million in losses.
Trade secrets can cover a broad range of proprietary company assets ranging from a confidential design of an innovative product to proprietary corporate information such as financial data or customer lists to the inner workings of a technical system. As such, executives find it incredibly challenging to fully understand the extent of trade secrets within their organizations and then how to protect this proprietary information from being targeted and stolen.
Seeking to find answers to these challenges, CREATe.org has joined with global consulting firm PwC to study the economic significance of the loss of trade secrets and IP. We will develop a strategic assessment of both current and future trends and identify the threats surrounding trade secret theft. The result? A lasting and defensible evaluation of the real cost of trade secret loss.
This effort will highlight the latest research and assessments on trade secret theft and will feature a look at how the threats against intellectual property may evolve over the next 10-15 years.
Perhaps most importantly, and in keeping with our core mission, we will work with PwC to create an original framework for companies to assess the value of their own trade secrets in order to help them identify those assets that are most critical to their enterprises and to their futures.
Provide your insights
This trade secret project will begin this fall and will be completed in early 2014. For the study, we will collaborate with a range of stakeholders to gain insights on our conclusions and to ensure the report offers deep relevance and value for those involved with CREATe.org. If you are interested in providing input to our study and receiving a full briefing on the report when we launch it, please email info@CREATe.org.
Companies are not defenceless in their fight to protect their most important ideas and, innovations from threat actors. Our report will be a further step in helping companies to defend against, and defeat, those who would steal what they have worked so hard to produce.
- Trade Secret Whitepaper: Trade Secret Theft: Managing the Growing Threat in Supply Chains
- Model IP Policies: sample policies for companies looking to implement policies to protect IP, available in English, Chinese and Brazilian Portuguese
- Free Benchmarking: Find out how your IP policies rank against best practices and companies around the world – request a free benchmarking of the IP Policies portion of CREATe Leading Practices for IP Protection. Email info@CREATe.org to learn more.