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When is your business susceptible to theft, what can you do?

On Behalf of | Mar 21, 2022 | Business Consulting & Advice |

Part of building your business is creating the assets that make it unique. You put in a lot of time and effort to help your company stand out and reach your customers.

The traits that set your business apart also make it valuable and vulnerable. Several types of people and entities may recognize the value of your company’s information and try to steal it.

Here’s what you should know about those who may try to take your business’s assets and what you can do about it.

Recognizing what is valuable and vulnerable

The first step to protecting your business’s assets is looking for what someone else in the industry could consider important. Your company’s most valuable assets could include information such as:

  • Trade secrets
  • Client lists
  • Business processes
  • Databases

In the past, information like this may have been on paper, making it more challenging to steal. However, if your phone, computer and other cloud-based systems are not secure, your assets could be at risk.

Who would steal our information?

Initially, you may think of a competitor who is jealous of your success or who simply wants to add to their own. While they may be the ones interested, they may not be the ones who take the information.

In some cases, former employees who sought an opportunity somewhere else could pass along information they gained as an employee.

Taking preventative measures

Protecting your assets means taking several steps to ensure your data is secure. You may want to consider measures such as:

  • Limited access to certain systems
  • Non-disclosure agreements (NDA) for employees with access
  • Multi-factor authentication and other verification steps for accessing secure systems

If you discover a leak of your valuable information, it is essential to act as soon as possible. You should talk to a skilled professional about compensation for the infraction and how you can prevent it from happening again.

Founded in 2015, Brick Business Law, P.A. represents clients throughout Tampa Bay and the State of Florida. Brick Business Law provides legal representation throughout Florida courtrooms and boardrooms. If your business needs to vigorously pursue a claim, expertly defend a lawsuit or just needs a trusted day-to-day legal advisor, we are the Florida firm that is prepared to be hyper-focused on your business’s legal needs. Please contact the Firm directly if you have any questions regarding this announcement or other matters, 813-816-1816 or through our online contact form.