Hackers Increasingly Looking
to Steal Intellectual Property

IP News and Information

What’s the most valuable asset your company possesses? The answer could vary greatly depending on what type of business you operate? However, for many companies, as well as individuals and universities, the answer lies squarely in their intellectual property, including important business plans, transactions and contracts. Most companies that recognize the value of their IP do everything they can to protect that IP from anyone who might be interested in stealing it. However, in spite of those efforts, there are still cyber hackers that are constantly looking to access this vital information and use it for their own profit and gain.

Cyber Hacking Is a Real Problem

It’s called cyber-espionage and it happens more than you might think. In addition, IP theft as a whole is a huge problem. In fact, according to the U.S. Department of Commerce, every year IP thefts of all kinds cost U.S. companies $200 to $250 billion. Likewise, piracy and counterfeiting costs companies even more, to the tune of more than $635 billion annually. These types of cyber crimes involving intellectual property are some of the worst kinds of crimes possible, as well as some of the most costly. That’s because they not only impact a company in the moment, but they can greatly affect the future of a company’s, as well as a society’s, economic progress.

Beware of Morpho

Recently, a group called Morpho, which is also known as Wild Neutron, has successfully targeted several businesses from many different industries through an unknown vulnerability in the Adobe Flash Player. The group has already targeted companies in Russia, Slovenia, France, Germany, Switzerland and the United States, to name just s few. The attacks have involved some of the world’s largest and most lucrative industries, as well as some of the world’s wealthiest, including pharmaceutical companies, IT, commodity and legal companies. The entire purpose of these schemes is to tap into valuable intellectual property and then use this information for monetization purposes in the future. These types of industries are especially popular targets because they possess IP that is easily reproduced as well as monetized.

Zero-Day Attacks Lead to Mass Thefts

Morpho, and other groups like them, uses what’s often referred to as zero-day exploits. A zero-day exploit refers to a vulnerability or a hole in a given software application that the vendor is unaware of. By exploiting one of these holes, cyber hackers, like Morpho can sneak into a company’s computer systems and access valuable data and information, including intellectual property, then send that information to command-and-control servers via connections that are encrypted. In Morpho’s case, the group was even able to disguise their breach by securely deleting event logs and files after stealing the confidential info. It was as though the group never even hacked the information in the first place.

IP Has Great Value

This is another example of just how much intellectual property can be worth and of the great lengths that thieves will go to get their hands on this valuable type of asset. That’s why companies should go to great lengths to protect their IP. It is also more proof that companies should be doing everything they can to increase their revenue streams by using their IP for monetization, instead of letting someone else get a hold of it first. One way to do this is by contacting an IP broker, like IPTrader, to help start the process. If you are ready to monetize your IP then please contact IPTrader today by filling out the form below.