Keep a Hawk Eye on Your Intellectual Property: Tips to Guard Your IP

Intellectual Property is one of the most discussed topic in almost every conference we do. The IndiaMART Knowledge Services team does get many queries to understand the basics of IP and how can Small and Medium Enterprises safeguard their IP.

But small companies should not worry about : IP?
Every company whether large or small builds IP. Infact on the most basic level, your people are your IP. In our experience emerging companies are more focused towards creating a unique value proposition and hence strong Intellectual Property gets created alongway.
There is nothing to literally 'worry' about when it comes to protecting and managing your IP. Your business can create some fairly strategical methodologies and play by the basics to safeguard IP.

Tell me more, what should SMEs do?
*Disclaimer: there will be many other methods, but we are listing down a few one's which our partner SMEs have come up to us with.

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• Computers: an obvious machine to use

No office we can imagine would be running without a computer today. The dumb-box has evolved into a super computing intelligent machine and has changed the way work is done world over. How can you safeguard information?

There are many ways for information to leak out through emails etc. The steps that you can take are:

• Login through set passwords to the official network
• Make it mandatory for your employees to access your systems through a proper login id and password over a secure network. As a rule in your company make your employees to "log off" your official network every time they're away from their desks

• Paper: shredders you must use

Though we understand we have to go green and many things are going digital. There are companies which are trying to manage a paperless office, but paper is still being used. Many of our plans with strategy are made on paper first, which then get converted into scalable digital formats.

Be careful when you are using that old dustbin for throwing away those key sheets of paper which have really important information scribbled on them, including your bills, invoices, receipts. Shred these first using a paper shredder and only then throw them away.

• When your employees leave/ get terminated

Put in place a proper employee leaving system in your company wherein you ensure that every piece of confidential information shared is retrieved. Obviously you cannot work around someone's mind. But at least you can ensure the safety of all possible physical proofs of documents.

• If an employee is terminated, have him leave immediately without providing a chance to think about fiddling with any information
• Check the mobile phone data (make it a mandate)
• Remove the person's login information to your network immediately

• Sign NDA's

An offer letter given to your employees who you think might be accessing critical information, must also be made to sign a strict and formally designed and driven Non Disclosure Agreement, which clearly must state them to not use any information pertaining to the company/ client anyhow, other than as mentioned in their contract. The agreement must also clearly lay down the steps the employees need to follow as a code of conduct within the company's premises and off it.

• Create awareness: set a code of conduct for people with crucial information

There must be a set code of conduct for people with crucial information with them about your enterprise. They must clearly be made to follow a set code of conduct, when sharing any information about your company/ key employees/ new projects and any other key information that you consider confidential.

• There must be keys to every safe lock

Documents kept in your room, which is locked is not enough. Ensure where you keep your documents is a place which is properly under a key and a lock.

• Electronic safety - digital camera's

There are many new devices int the market which ensure that your workplace is under a hawk eye watch even when you are not around. Cheap and smart security solutions available in the market can always ensure that your workplace is being adequately looked after.

• Setting a clear guideline system for sharing information online/ on-mobile

In the world of open conversations on social networks, your organisation has to set clear guidelines which are followed by your employees in terms of what to say/ reveal when talking about your enterprise online/ on-mobile. Many large companies have already set such guidelines and they can be taken as examples to initiate this process at your's.

There still could be lapses. Emerging companies will have to come up with methodologies of safeguarding their information. To help you set such steps and methods in your organisation, contact IndiaMART Knowledge Services team for more information.