This papers seeks to highlight the differences between Proprietary and Contract Security. The paper will give verified information on these two. Thesis statement: both Proprietary and Contract Security are securities in the market yet they operate different but aim at meeting similar goals. (Fischer & Janoski, p. 138) Literature Review: First, we will start this literature review by showing the definitions differences between Proprietary Securities and Contract Securities. (Blake & Associates, 2008) Contract Securities are business based agreements that are reached between two or more agents.
A contract security is a paradigm for making security arrangements between companies. It organizes these security arrangements on two claims bases. It enhances inter organizational securities in order to protect and enforce the performance of contracts. It also does this to ensure that the dependence on reputation, and outside enforcement for secure performance of the organization’s contract is reduced. Contract Security must contain the names and addresses of the debtors in case it is a person other than the security provider. (Blake ; Associates, 2008) It contains the description of the encumbered asset in order to identify it.
It describes the secured claim in order to identify it or circumscribe a plurality of claims with an indication of the maximum. Contract Security can apply to as many parties as possible. On the contrary, Proprietary Security is only recognized as a security if it is assigned the right in a mobile asset, that is effective against third parties and identifies with the secured party to achieve the preferential satisfaction of the secured claim from the asset in question. Propriety Security applies on agreements that are of the likeness of a pledge, and applies were it is considered by the parties as a security security right.
It is mostly effective where it is applied property ownership as a security right. It may apply on the case of other proprietary rights like transfer of ownership or another right or a trust. This security cannot be contracted and it serves one party at a time. Proprietary Security is important in enhancing the progress of communication. Freedom to adopt prevalent technology for all companies by RSA, has been possible courtesy of proprietary security. Proprietary Security has the importance of not being, easily exploited. (The Insight Company for the Information Age, 2006) It is worth adopting for commercial software companies.
However, Proprietary Security is accompanied with the most serious risks especially when a lose on the Proprietary information occurs. This risk causes such problems as cyberterrorism and theft of intellectual propriety. This calls for sharing of security among companies in order to prevent such losses in the future. This would be possible through combined evaluation of the problem. (The Insight Company for the Information Age, 2006) (The Insight Company for the Information Age, 2006) However, it is noted that,Proprietary security on web is very important.
It is in charge of the company’s software intrusion. It requires special attention to ensure that the status of the security is perfect. This is because many information systems and webs are changing their realities about information security. Proprietary Security secures a company from web attacks from within or without a company. (The Insight Company for the Information Age, 2006) On the other hand, Contract Security has its share of importance and advantages in the information technology. Contract security provides superb information securities.
It is widely preferred for its ability to provide critical IT Security Services. For instance, it is Contract Security that operates through GNS to provide the most excellent Information Technology Security Services. (Blake & Associates, 2008) This company is praised for being highly responsible for its providing security to those other companies that may wish to adopt security from them. Contract Security generally bears more advantages over the Proprietary Security. In adopting Contract security offers, the client can provide training that will suit the needs to which he or she adopted the security.
When adopting Contract Security, you are assured of the ability to determine the benefits you get from the security provider. In case you are not satisfied with the results, you can regulate the contract agreements. In conclusion, both Proprietary Security and Contract Security are highly valuable in maintaining security to IT companies. (Fischer & Janoski, p. 146 ) Proprietary Security is more advantageous because it is directly related to the IT companies. Contract Securities has the advantage of being more effective in providing Security services to IT in that, it has to be effective otherwise, the contract may be easily terminated.
Reference: The Insight Company for the Information Age. (2006). Microsoft says Proprietary Software needs Proprietary Security. Retrieved September 13, 2008, from <http://techdirt. com/articles/20060404/1248210. shtml> Blake & Associates, (2008). Contract Security Issues. Retrieved September 13, 2008, from <http://www. blakeassociates. com/articles/security-articles/contract-security-issues/> Fischer, R. J. & Janoski, A. (1999) Loss Prevention and Security Procedures: Practical Applications for Contemprary Problems. London, Butterworth-Heinemann