April 12, 2022
In order to make it in the business world, it’s really important that you have something unique, something that no one else can replicate. It’s this USP that will make people choose you against similar (or even slightly superior) offers.
Most of the time, the way you manage to do things better than others will be a secret, and if it leaks, others will be able to replicate your methodology and success. With that in mind, you need to learn how to protect your trade secrets better. They’ll still try, but you shouldn’t make it too easy. Here are eight ways to help you do it.
First, you need to install an antivirus program on all devices on your network. This is the so-called endpoint detection and protection, which means that every piece of hardware that has access to your system is under careful surveillance.
Next, you have to pick a program like one of the best antivirus software ranked by Techopedia to install on these devices. Tech Expert Krishi Chowdhary recommends choosing one based on core security features, value for money, and performance impact (the software should not weaken your device's performance).
How you use antivirus also matters. Sure, for the most part, it works automatically without ever requiring your input or assistance. Just don’t pause it when it prevents you from doing so. Don’t add exceptions just because you really want the file. Listen to the software, and it will keep you safe.
Lastly, you should insist on a good BYOD policy. Just because your website is so quick, this doesn’t mean
The next thing you need to consider is the fact that unreliable people are more dangerous than unreliable systems. In other words, you need to think about implementing a role-based access control. This way, people will only know what they have to and after they’ve proven they can be trusted.
You want to insist that each of your employees uses multi-factor authentication. This way, even if they fumble their password, you know that their personal device protects access on the other end.
You also want to regularly audit access logs. Check who was logged in and when. This way, you’ll create an impenetrable system and know exactly how the information flows.
Also, don’t assume that they sold your trade secrets. You can also assume that they made a mistake and to rectify this, train employees on data sensitivity. Make sure that they know exactly what they can and cannot do.
You want to encrypt sensitive files both in storage and in transit. This means using the right storage and communication tools and even using a VPN for extra encryption. The data will be safe this way.
You need to do more than just provide secure communication channels. You also want to ensure that people are actually using them. In other words, you need to make sure that they know company policy and that they’re not sending business files via private apps.
You need to use full-disk encryption for devices and make sure that every employee undergoes a brief onboarding on how to make their devices safe. Without it, nothing will actually work.
You should also update encryption protocols regularly. The cybersecurity landscape always changes, and you need to make sure you can actually keep up with these changes.
You must require complex passwords from your employees. No matter if they’re using 2FA or not, they need to take password security seriously. So, what you want to do is implement a very strong policy and teach them why they have to choose strong passwords.
Next, you need to tell them what strong passwords are. You want to insist on randomness, a long password containing different characters, and more. This way, it will be nearly impossible for people to figure it out. When we say randomness, what we mean is that picking a birthday or an anniversary or the name of your favourite movie character is a horrible idea.
You must also insist on regular password changes. Ideally, they should change their password every 90 days.
All of this can be made simpler with the right password management software. The use of password managers automates this process and makes it easier for everyone.
Implementing a good decision is a smart move but you want your cybersecurity to be systemic.
Previously, we’ve already mentioned the use of a VPN for extra encryption. While this is always a good idea, it’s even more important to use a VPN for remote access.
Another thing you need to do is ensure that you regularly update firewalls. Even a basic firewall can provide so much protection as long as you’re keeping it updated and working at all times.
The next thing you need to take into consideration is the importance of monitoring network traffic for anomalies. The simplest way to do so is to hire managed detection and response services. This way, you’ve outsourced this responsibility and ensured that there’s always someone in charge.
Other than this, you should also segment networks for added security. This way, if something gets compromised, it won’t be everything.
Previously, we’ve talked about restricting access, but there’s a lot of damage to be done, even with limited access. So, you want to implement activity monitoring software. This way, the system will use advanced AI technology to track suspicious behaviour patterns and send alerts for unusual behaviour.
Defining unusual behaviour is tricky, especially since you don’t want any behaviour labelled this way. So, make sure to pick a really reliable program.
Also, you should regularly review activity logs. Try to see a pattern and, more importantly, feed the pattern into the system.
Lastly, provide your staff with training on acceptable use policies. This will prevent them from accidentally triggering the system.
To protect your trade secrets, you should require NDAs from all employees. This way, they’ll have a threat of an actual lawsuit if they breach confidentiality. In a way, you’re giving them an incentive to stay quiet since doing otherwise could have repercussions for them.
With shifting regulations and cybersecurity (and industry) threats, you should update NDAs regularly to reflect new threats. Have a legal team or a trusted lawyer on your contact list, and always look for the most reliable templates.
You must include clauses on digital data protection since this is where the majority of threats in 2024 are coming from.
Lastly, you can’t allow it to be all talk. You must enforce consequences for breaches, even though the damage is already done. By doing so, you’re creating a strong deterrent and sending a message of a type of behaviour that you won’t tolerate.
You cannot remain competitive without being secretive. After all, anyone you outcompete will come back and check out what you’re doing, then start using it against you. Your business model is a vital part of your intellectual property; you cannot take it for granted. Doing so would be disrespectful to both your own work and the work of your team.
