Information Rights Management (IRM) is the management of a users right to information. Do they have the right permission to work with this file? Within Microsoft you can setup labels, and apply restriction policies to these labels. For example a email or document tagged as 'confidential' may prevent the user from edited, printing, downloading, or forwarding it. If the user tries to copy and paste some content the paste action will be blank, if they try to screenshot it will turn out black and even taking a photo of the screen applies an invisible watermark to identify which authorized user had it open when the photo was taken.
Common labels include public, internal, financial and confidential, and can be applied manually during email/document creation, to whole libraries/folders or automatically by policies that look for specific triggers; for example if bank details are detected, it automatically applied the financial label to prevent editing or forwarding.
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