As a content creator, have you ever considered the value of your digital assets? From original content to social media accounts, these assets are crucial to your online presence and can be just as valuable as physical assets.
In fact, according to a study by Market And Market, the global digital asset management market size is projected to reach USD 8.0 billion by 2027 from USD 4.2 billion in 2022, at a CAGR of 13.6%. As the world becomes more digitized, content creators need to prioritize the protection of their digital assets.
Losing or having your digital assets compromised can significantly impact your brand and revenue. It’s important to understand the different types of digital assets and the risks they face. For example, original content such as videos, images, and written content can be easily replicated or stolen, while social media accounts can be hacked or taken over by unauthorized users.
Overall, content creators must recognize the value of their digital assets and prioritize their protection in today’s increasingly digital world. This article will explore the different types of digital assets, the risks they face, and how content creators can protect them.
Digital Assets And Their Types
Digital assets refer to any content, media, or information that has value in digital form. These assets include original digital content, websites, software, online accounts, digital art, music or videos, and social media profiles. They are often intangible and difficult to quantify but are as valuable as physical assets.
Protecting digital assets has become increasingly crucial for individuals and businesses as the world becomes more digital. Digital assets can be divided into two main categories: intellectual property and online accounts.
1] Intellectual property
Intellectual property (IP) encompasses the products of human intellect, including inventions, artistic and literary works, symbols, designs, and names used for commercial purposes. As a content creator, your intellectual property is a key component of your online presence and can be just as valuable as physical assets.
Protecting your intellectual property is essential to maintaining the value of your content and ensuring that others do not use it without permission. Content creators must register their intellectual property to provide additional legal protection and make pursuing legal action against infringement easier.
The common intellectual properties are:
- Copyrights: Copyrights protect original works of authorship, such as literary, artistic, and musical creations. As a content creator, you should be aware that your original content is automatically protected by copyright law. However, registering your work with the Copyright Office can provide additional legal protection and make pursuing legal action against infringement easier.
- Trademarks: Trademarks protect the branding of your business, including names, logos, and slogans. Registering a trademark with the USPTO can provide legal protection against infringement and prevent others from using your branding without permission.
- Patents: Patents protect inventions, including processes, machines, and compositions of matter. If you have developed a unique invention, filing a patent application can provide legal protection and prevent others from copying or using your invention without permission.
2] Online accounts
As a content creator, you likely have various online accounts essential to your work, including social media, email, and cloud storage. These accounts are valuable assets that require protection to prevent unauthorized access and maintain the security of your digital assets.
Social media accounts are crucial for reaching and engaging with audiences, but they can also be vulnerable to hacking and other security risks. The common online accounts include:
- Social media: Social media accounts are valuable assets for content creators, providing a platform for reaching and engaging with audiences. However, social media accounts can also be vulnerable to hacking and other security risks. Strong passwords and two-factor authentication are important to protect your social media accounts.
- Email: Email accounts are often used for business communication and can contain sensitive information. Using a secure email service and implementing strong passwords can help protect your email account from unauthorized access.
- Cloud storage: Cloud storage provides a convenient way to store and access files anywhere. However, using a reputable cloud storage provider and implementing strong security measures such as two-factor authentication and regular backups is important to protect your files from loss or theft.
Risks Linked to Digital Assets
Digital assets are vulnerable to various threats that compromise their integrity and value. As a content creator, you must be aware of these risks and proactively protect your digital assets.
1] Cyberattacks
Cyberattacks are a significant risk to digital assets and can take many forms, including malware, phishing, and password attacks. These attacks can compromise the integrity of digital assets by stealing or corrupting data, granting unauthorized access to online accounts, or disrupting computer systems. The common ones are:
- Malware: It is a type of software that is specifically created to cause harm or disruption to computer systems. This malicious software can infiltrate your computer or mobile device through various means, such as deceptive links, downloads, or attachments. Once your system is infected, malware can compromise your digital assets by stealing or corrupting your data or granting unauthorized access to your online accounts.
- Phishing: Itis a cyberattack tactic that involves the use of fraudulent emails or websites that are designed to deceive users into providing sensitive information, such as usernames, passwords, or credit card numbers. Phishing aims to obtain this information for malicious purposes, such as identity theft or financial fraud. Once the attacker has access to this information, they can compromise your digital assets by gaining unauthorized access to your online accounts or sensitive data.
- Password attacks: Password attacks involve attempts to guess or steal your passwords. Weak passwords can be easily cracked, and using the same password across multiple accounts can leave you vulnerable to attacks. Password attacks can compromise your digital assets by giving attackers access to your online accounts.
2] Human error
Human error is another significant risk to digital assets. Accidental deletion, mishandling of data, and lack of backup can all compromise the integrity and value of digital assets. The common ones include:
- Accidental deletion: Accidental deletion is a common cause of data loss. Files can be accidentally deleted or overwritten, and you can lose data due to hardware failures or software errors.
- Mishandling of data: Mishandling of data can also compromise your digital assets. This can include sharing sensitive information with unauthorized parties or failing to secure data properly.
- Lack of backup: Failure to back up your digital assets can leave you vulnerable to data loss in the event of hardware failures, cyberattacks, or human error.
Protecting Digital Assets
To protect digital assets, content creators can take several measures to minimize the risk of loss or compromise.
1] Security measures
- Strong passwords: Content creators should use strong, unique passwords for each account to minimize the risk of password attacks. Passwords should be a combination of letters, numbers, and symbols and should not be easily guessable.
- Two-factor authentication: It adds an extra layer of security to online accounts by requiring a second verification form, such as a text message or fingerprint scan.
- Antivirus software: It can help protect against malware and other cyberattacks by detecting and removing malicious software.
2] Backing up data
- Cloud storage: Storing digital assets on cloud-based platforms can provide easy access and backup capabilities and protect against data loss due to hardware failures or cyberattacks.
- External hard drive: External hard drives can also provide a backup option for digital assets and be kept separately for added protection.
- Regular backups: Content creators should establish a regular backup schedule to ensure that digital assets are backed up consistently.
3] Legal protection
- Registering intellectual property: Registering intellectual property, such as trademarks, copyrights, and patents, can provide legal protection for digital assets and deter infringement.
- Monitoring for infringement: Content creators should monitor for unauthorized use or infringement of their digital assets and take appropriate legal action.
- Cease and desist letters: Cease and desist letters can be sent to individuals or companies using digital assets without permission, demanding that they stop using the assets and potentially seek damages.
4] Creator Insurance
Content creators can also consider purchasing insurance to protect against losses due to cyberattacks or other incidents that may compromise digital assets. Insurance can provide content creators with added protection against losses due to cyberattacks or other incidents that may compromise their digital assets. Several insurance policies are available, including cyber insurance and professional liability insurance.
Here are some features of creator insurance:
- Protection for creative work
- Covers intellectual property infringement claims
- Liability coverage for lawsuits
- Protection against breach of contract claims
- Includes cyber insurance for digital assets
- Can cover lost income due to legal issues
- Policy tailored to specific industry
- Affordable monthly premiums
When considering insurance, it is important to carefully review policy terms and coverage limits to ensure that the policy adequately meets the needs of the content creator.
Conclusion
The rise of freelance and remote work has increased the need for digital asset protection. As individuals are often responsible for managing their digital assets, freelancers and content creators must safeguard their intellectual property proactively. This includes implementing security measures, backing up data, and considering insurance options.
Content creators should also be aware of legal protections for their intellectual property and monitor for infringement. A comprehensive creator protection plan from Welance can help creators to secure their digital assets and provide financial support to recover or restore the loss due any cyber incident.