Protecting Your Intellectual Property: Why Governance, Risk & Compliance (GRC) is More Than Just Legal Paperwork
News and information from the Advent IM team.
- by Anthony Orjally
- Advent IM Blog
Ever tried herding cats? That’s what protecting Intellectual Property (IP) can feel like without a solid Governance, Risk, and Compliance (GRC) strategy. However, losing control of your IP isn’t just a legal headache; the consequences can be far more severe.
The Reality of IP Theft in the UK
Intellectual Property is a critical asset for UK businesses, but its security is often overlooked. Consider these key statistics:
- IP theft costs UK businesses billions each year, with counterfeit and pirated goods worth over £13.6 billion entering the market annually. (Source: UK Intellectual Property Office)
- 65% of large UK businesses consider IP a core competitive advantage, yet many fail to implement robust security measures to protect it. (Source: UKIPO)
- Cyber threats targeting IP are on the rise, with trade secrets, patents, and proprietary technologies increasingly targeted by cybercriminals and nation-state actors.
The Ramifications of Losing Intellectual Property
Many assume that IP loss is simply a legal issue, but the reality is far more complex. If your IP falls into the wrong hands, the consequences can include:
- Loss of Revenue
Once your IP is stolen or leaked, competitors—both legitimate and malicious—can replicate and commercialise your innovations, cutting into your market share and profits.
- Reputational Damage
If customers discover that your proprietary technology, designs, or creative works are being used elsewhere, trust in your brand can erode. A loss of confidence can impact customer retention and investor confidence.
- Regulatory & Compliance Risks
If your business fails to adequately protect sensitive IP, you could face legal action, breach contractual agreements, or violate data protection laws such as GDPR.
- National Security Risks
For businesses in critical sectors such as defence, AI, and pharmaceuticals, an IP breach can have geopolitical consequences. Foreign adversaries actively target UK firms to gain access to advanced technologies, putting national security at risk.
How GRC Helps Secure Your IP
A robust GRC framework is essential for safeguarding IP from theft, misuse, or unauthorised access. Here’s how:
✔️ Governance – Establish clear policies on IP ownership, access control, and ethical use. Ensure senior leadership is involved in defining IP protection strategies.
✔️ Risk Management – Identify and mitigate risks related to insider threats, cyber espionage, and weak supply chain security. Conduct regular IP audits and security assessments.
✔️ Compliance – Align with UK laws, including the Intellectual Property Act 2014, GDPR, and guidance from the National Cyber Security Centre (NCSC). Compliance ensures legal protection and strengthens overall security.
Don’t Let the Cat Out of the Bag!
Protecting your IP isn’t just about filing patents and trademarks—it’s about actively securing your business’s most valuable assets. Cybercriminals, rogue employees, and foreign entities are always looking for weaknesses to exploit.
By embedding IP protection into your GRC framework, you reduce risks, enhance resilience, and maintain a competitive edge.
How does your organisation safeguard its intellectual property? Let’s discuss.
Written by Ellie Hurst, Commercial Director.