All is fair in love and war. So goes the cliche from antiquity. Well, the same could be said of doing business. As your business grows, you need to recognize and deal with business security issues that will inevitably arise in and for your company.
I always laugh when I read the statements offered up for incorporating a business in marketing pieces. They always tout incorporating as a way to protect one’s personal assets from the losses of the business. Okay, but what about the business assets? How are you going to pay your mortgage when all the assets of your business are lost in a lawsuit? It makes no sense, just like the way many businesses fail to take security seriously.
There are two types of security issues a business has to consider. The first is the caveman threat, to wit, someone physically breaking in and stealing something. This is a viable threat, but one that obviously can be dealt with through a classic security system. The idea would be to install an alarm system that alerts a security firm that an unauthorized entry has occurred so that the police and business owners may be alerted.
The second security issue that arises has to do with the key assets of the business. These assets are often comprised of business trade secrets. They exist as computer files and/or hard copies. Does your business have any method for securing these? Does it even have a policy regarding whether employees can copy said files and take them off the premises? If not, what is to keep a disgruntled employee from heading over to your competitor with your business secrets in hand in an effort to get a new job? Let’s look at a classic example.
Formula One is a form of open wheel racing. The races take place in different countries around the globe and the television audience numbers are in the hundreds of millions viewers for each race. The two big rivals are McLaren Mercedes and Ferrari. One year, a disgruntled worked from Ferrari allegedly went to Mercedes seeking a job and brought copies of a lot of the Ferrari technical data. Lawsuits and investigations flew. At the end of the day, McLaren was fined a staggering $100 million dollars and nearly barred from the championship.
This may seem an extreme example, but is it really? Give some thought to the key business assets of your company. Who has access to them? What have you done to secure them? If the answers unnerve you, they should be a call to action!
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Check it out: Dealing With Business Security Issues
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