While it is recognised that the theft of intellectual property (IP) and knowledge assets through cyber attacks can present serious challenges to businesses and the broader economy, the cost of such losses in the UK has not been recently quantified. There is currently no established methodology to measure the economic impact of IP and knowledge asset theft resulting from cyber attacks, nor a clear consensus on how to assess the overall cost of cyber attacks to the UK economy.

Alma Economics was commissioned by the Department for Science, Innovation and Technology (DSIT) to estimate the impact of IP and knowledge asset theft resulting from cyber attacks on UK businesses and the wider economy.

We adopted a multi-step approach combining qualitative and quantitative methods, including a literature review, econometric analysis using Advisen Ltd. Cyber Loss Data (provided by Zywave, Inc.)  and the FAME database (Moody’s), development of case studies, and economy-wide estimates of GDP impact.

Our findings provide valuable insights into the effects of IP and knowledge asset theft via cyber attacks on UK firms. This research forms part of a broader initiative aimed at better understanding and quantifying the economic cost of cyber attacks in the UK.

Our report can be found here.