Intellectual Property Fraud

Intellectual property fraud is a type of fraud that involves property that is protected under copyright, trademark, patent, or trade secret laws. There is a wide range of activities that can constitute intellectual property fraud. In some cases, the fraud may have to do with one party illegally obtaining access to protected material. This is basically a theft of the intellectual property, which is usually achieved through misrepresentation or deceit.

When employee leaves there may be dispute with employer related to copyright material copied by employee or has been used by employee after contracted period, in such situation it more important to protect company assets and report any misuse of company assets.

The most common types of occupational fraud are asset misappropriation, vendor fraud, accounting fraud, data theft, bribery and corruption, and payroll fraud. If you suspect, or there are red flags indicating, fraudulent activity, employees in trusted financial service positions, such as CFO, accountant, bookkeeper, and accounts receivable/payable roles might be a good place to start your search; these employees have access to the necessary information that can do lasting and irreparable damage to your company.