When it comes to managing data security, many in business hit a flat note.
WITH MINDI GIFTOS
As a technology lawyer who concentrates on the Internet of Things (“IoT”), it was a stark reminder that the IoT is here and is beginning to more pervasively intertwine into the daily fabric of our lives.
As if the pace of technological change isn’t fast enough, looming around the bend is a next-generation advancement that will change the way in which business transactions are conducted. It’s called blockchain technology and now is the time to consider its impact to your business.
From wearable technologies, to drones, to driverless cars, the Internet of Things, commonly known as IoT or “the Internet of Everything,” is everywhere. And it is growing exponentially.
In its Technology Vision 2016 report, Accenture predicts that 25% of the world’s economy will be digital by 2020. The global consulting firm contends that we are witnessing a major technology revolution, specifically a digital revolution. It’s a revolution of emerging “digital platforms” comprised of cloud services, artificial intelligence, cognitive computing, predictive analytics, and intelligent automation.
In the European Union, personal data may be collected only under strict conditions and for legitimate purposes. The United States, on the other hand, does not have an overarching federal law regulating the collection and transfer of personal data. For many years companies could rely upon the U.S.–EU Safe Harbor to lawfully make transatlantic data transfers and bridge the gap between the differing privacy frameworks.
A new report by the Industrial Research Institute in Washington, D.C. forecasts that global research and development (R&D) spending will increase by 3.5% in 2016 and reach nearly $2 trillion in value. About one quarter of the spend ($514 billion) will occur in the United States, with the remainder primarily in Asia and Europe.
In light of the changes that come with the DTSA, it is a good time for all companies to revisit their employee and contractor policies to ensure they have appropriate whistleblower disclosures. This includes reviewing employment policies and contracts, consultant and independent contract agreements, severance agreements, non-competes, and non-disclosure agreements.
Almost all businesses are aware of the need to make their physical locations accessible by those with disabilities in accordance with the Americans with Disabilities Act (ADA). However, many companies are unaware of the importance of ensuring that another crucial aspect of their company complies with the ADA: client-facing websites.
By now most businesses understand that the question is not whether they will experience a data breach incident but when. Knowing how to mitigate the risks that flow from a breach is vital. In addition to implementing a program of administrative, technical, and physical control measures to identify and reduce the risk, cybersecurity insurance is a means of mitigating the financial risks to the business if those other control measures fail.
Mindi Giftos and her colleagues in Husch Blackwell’s Technology Law group handle a wide variety of issues related to emerging and established technologies, including intellectual property, development and licensing, commercial contracting, and corporate transactions across a broad range of industries.