Economic Impact of Intellectual Property and Knowledge Assets Theft from Cyber Attacks in the UK Final report

Summary

Intellectual Property (IP) and knowledge asset theft through cyber attacks pose a significant and growing threat to UK businesses, with the financial consequences largely unexplored. The Department for Science, Innovation and Technology (DSIT) commissioned Alma Economics to conduct a comprehensive study, using both quantitative and qualitative methods, to assess the economic impact on UK businesses and the wider economy. The completed research estimates that IP theft from cyber attacks cost the UK economy between £1 billion and £8.5 billion in 2024 (0.04% to 0.30% of GDP), with SMEs experiencing a substantial 16% reduction in sales growth in the attack year, though most affected firms tend to recover within a year.

Key Facts

Source Document

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