4

RISKS OF COLLABORATION

In order to succeed, your desire for success should be greater than your fear of failure.

—BILL COSBY

There is a time and a place to use collaborative business practices. Used in incorrect circumstances, collaboration can be unsuccessful, counterproductive, or even risky. However, many problems can be avoided or mitigated with planning and the recognition of potential risks. Some of the most obvious and most important risks that must be addressed and managed in a collaborative setting are data security, intellectual property, legal and antitrust issues, and reputational risks.

Data Security

The collaboration tools that allow quick and convenient information sharing between the parties also make it essential for IT departments to use safeguards and establish best practices to ensure data security within their organizations. File encryption and user authentication are essential elements of making sure that data is secure yet accessible to the collaborators. In addition to IT-based data safeguards, you must establish strong governance, including policies and guidelines for use, and provide resources to help participants choose appropriate tech or service solutions. Make sure the platforms are appropriately sized and ensure that they are moderated and monitored. Realizing that each team member might be at a different technology l....