What do you do if your aerospace engineering business is at risk of intellectual property theft?

2 Secure your IP assets

The second step is to secure your IP assets by implementing appropriate measures to prevent unauthorized access, use, or disclosure. These measures can include physical security, encryption, authentication, backup, firewall, antivirus, and VPN. You should also train your staff on IP awareness and best practices, and enforce clear policies and contracts on IP ownership, confidentiality, and non-disclosure.

3 Monitor your IP assets

The third step is to monitor your IP assets by keeping track of their status, usage, and performance. You should regularly review your IP portfolio and update it as needed. You should also watch out for any potential infringements, misappropriations, or challenges to your IP rights. You can use tools such as patent databases, trademark registries, web crawlers, and alerts to detect any suspicious or malicious activities involving your IP assets.

4 Enforce your IP rights

The fourth step is to enforce your IP rights by taking legal action against any parties that violate or threaten your IP interests. You should consult with an IP lawyer to determine the best course of action, depending on the nature and extent of the IP theft. You may seek remedies such as injunctions, damages, royalties, or settlements. You should also document and preserve any evidence of the IP theft and report it to the relevant authorities.

5 Recover from IP theft

The fifth step is to recover from IP theft by mitigating the impact and restoring your competitive advantage. You should evaluate the damage and losses caused by the IP theft and take steps to remedy them. You may need to revise your IP strategy, improve your IP protection, or develop new IP assets. You should also communicate with your stakeholders, such as customers, partners, investors, and regulators, and reassure them of your credibility and value.

6 Learn from IP theft

The sixth step is to learn from IP theft by identifying the root causes and the lessons learned. You should conduct a post-mortem analysis and identify any gaps or weaknesses in your IP management and security. You should also implement any recommendations or improvements to prevent or reduce the risk of future IP theft. You should also monitor the trends and developments in the aerospace engineering industry and the IP landscape, and adapt to the changing environment.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?