Intellectual properties rights (IPR) such as Copyrights, Patents, trademarks, etc. signifies the value a human intellect creates for an organization. An idea, product, service, or a strategy that can change the face of business altogether. Needless to say, owing to its high value, IPRs are extremely vulnerable to cyber threats. It is imperative to manage the right to access IPR and this can be successfully achieved with Digital Rights Management.
What is Digital Rights Management?
A Digital Rights Management solution or technology is a set of security protocols built to restrict access to digital IPRs.
For instance, an organization creates a product that is one of its kind in the market. The technology and innovation of the product is unseen. The organization patents the product and copyrights the innovation used to build the product. DRM helps in preventing the infringement and unauthorized use of copyrights by managing and limiting accesses to the same.
Let’s help you understand the importance of DRM in security managing by entailing 5 main benefits of it.
5 main Benefits of Digital Rights Management
#1 Streamlines access to IPR
Intellectual properties of the business should have limited access. No matter how close knit an organization’s culture is, apart from the key members of the organization who are authorized to access IPR, no one should be able to access IPR or information related to it. However, in this digital age, basic know how-how of breaking into accesses is enough to expose IPR or related information.
Digital Rights Management technology enables seamless access to IPR, monitors the access, and ensures that IPR is being accessed bona fide.
#2 Efficient IPR security management
Digital IPRs need uncompromised, highest level of security As Digital Rights Management technology streamlines and monitors access to IPR, it helps in preventing IPR theft invariably. The management will have a concise overview of who accesses IPR, shared accesses, access attempts, what documents are being read, altered and by whom.
With Digital Rights Management, IPRs are go regress scanning. The management can also take better decisions on security protocols implemented for IPR.
#3 Improved audit process
Organizations are compelled to undergo frequent audits. The IT/ security audits throw light on the cybersecurity posture of the organization. However, an audit is a quite time-consuming, and taxing process so solutions such as Digital Rights Management help in better and efficient audit.
Digital Rights Management systems help in identifying leaks, suspicious access attempts, modification or manipulation of IPR, etc. It becomes easy to investigate the security protocols and eases the process to procuring certifications.
#4 Better compliance with regulation
Organizations must comply with statutory regulations such as GDPR, CCPA, HIPAA, etc. and most Digital Rights Management solutions are built in compliance to statutory regulations. When an organization deploys DRM systems, they become compliant with the regulations.
Staying compliant with regulations is crucial for brand building. It signifies that the organization’s security is up to the mark and scales up the confidence of customers, investors and other stakeholders of the organization.
#5 Prevents revenue loss
Essentially, IPR signifies an idea, product or strategy that can be extremely profitable to the business. An organization may suffer massive revenue losses should IPRs get stolen. With DRM solutions, and benefits such as streamlined access, constant monitoring, better security and privacy management, and adherence to statutory regulations, violation and theft of IPRs is successfully managed.
As far as the security of IPRs is efficiently managed with DRM solutions, the organization will be spared of disrupting financial losses.
Your organization can scale up to new heights with that one idea, product, or strategy. Protect the ideas with copyrights will help you with legal issues. Say, if the copyrights get infringed, you will get legal assistance. However, with Digital Right Management in place, you will not get to the point where anyone infringes your copyright and you’ll have to bear legal hassles.
So, companies embracing innovation must certainly consider deploying a good DRM solution.