When businesses negotiate international agreements they may share confidential information between them. This information could include financial data regarding the business, operations or inventory figures. The use of protocols to safeguard this sensitive data can help companies keep trust with their partners and prevent leaks.
Depending on the level of risk, different protocols can be utilized to safeguard this information. Highly sensitive data can pose a high level of risk to an individual or business in the event of a breach. It should only be handled by those who are authorized. This includes confidential employee data, board documents and personally identifiable information.
The release of moderately sensitive data can cause only minor harm to the organizations or individuals involved. This includes building plans information donors’ records, data regarding intellectual property IT service information, as also visas and other travel documentation.
International deals that contain sensitive files are a growing concern for business executives. These files are the crown jewels of the business and could be a high risk for being misused as they contain personal information, financial information or operating secrets. This type of information if lost, misused or accessed in a way that is illegal, can negatively impact the security of the country and federal programs, as well as the privacy rights that individuals have under the Privacy Act. This type of information is also referred to as controlled non-classified information (CUI). To protect these files, businesses must ensure that they are properly tagged and cataloged, and stored effectively across borders.