“Adding a Cybersecurity Plan to the Business Plan: Cybersecurity and IP Considerations for Startups” IPWatchdog
In an article published by IPWatchdog on November 15, 2019, India Vincent discusses the intersection of cybersecurity and intellectual property for startups.
“A cyberattack is an unwelcome event for any company, but the effects can be especially detrimental to a startup, with 60% or more of small businesses that experience a data breach going out of business within a year of the breach,” they state.
Unfortunately, not all companies have millions of dollars to invest in cybersecurity; however, by allocating even limited funds to assessing your data privacy risks, implementing a protection plan, and creating an incident response plan, a startup can significantly improve its chances of surviving a cyberattack.
The authors further detail potential cybersecurity risks faced by startups, conducting vulnerability assessments, creating a cybersecurity plan, tips to improve security, relevant IP concerns, and previous breaches.
“By investing their limited funds wisely, startups can implement basic security measures and incident response plans that can greatly improve the startup’s chances of adequately responding to a data incident and limiting the resulting damages,” Vincent and Watson emphasize.
Creating a cybersecurity plan is crucial and should not be delayed – even on a budget. The key is to focus efforts on the protection of the business’s more critical data.
For the full article, click here.