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Implementing Best Practices Before and After a Security Breach Can Mitigate Corporate Risk
Victims of personal data security breaches are showing their displeasure by terminating relationships with the companies that maintained their data. A 'National Survey on Data Security Breach Notification,' released Sept. 26, 2005 by privacy think tank Ponemon Institute and sponsored by White & Case, indicates that 19% of Americans who have received notification that their personal data had been compromised due to a breach have terminated or plan to terminate their relationship with the company where the security breach occurred. Another 40% say that they are considering whether to take their business elsewhere as a result of the breach, and a whopping 58% say that the incident has decreased their trust and confidence in the company. Percentages set forth in this article are based on the total number of survey respondents who reported receiving a breach notification.
The force driving these disclosures and the consumers' subsequent discomfort with the situation is new data privacy laws in California and over 20 other states that for the first time preclude companies from keeping certain security breaches secret and require them to notify individuals that the security of their personal information has been breached. And the new laws allow government enforcers to impose stiff fines (or, in the case of California, expressly set forth a private right of action per Calif. Civ. Code Section 1798.84(a)) on companies that fail to handle disclosure properly or to take reasonable steps to protect personal data in the first place. Indeed, in some situations failure to disclose a privacy breach might trigger liability under the securities laws, and even possibly spark an investigation by the SEC if, for example, management continued trading in a company's stock after knowing of the breach.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?