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The Hidden Liability in Legacy Data
IT organizations around the world are charged with protecting corporate data assets. All data, including sensitive executive e-mail and intellectual property documents, is managed by IT for the purpose of safekeeping. Lawyers and legal staff are now starting to participate in the process of managing corporate records. Policies are being developed that help manage the corporate liability around data and ensure that information is not only protected and available, but also handled according to corporate policy. This emerging area is known as Information Governance.
Wikipedia defines Information Governance as “the set of multi-disciplinary structures, policies, procedures, processes and controls implemented to manage information on all media in such a way that it supports an organization's immediate and future regulatory, legal, risk, environmental and operational requirements.” Organizations that face frequent litigation or regulatory oversight are quickly implementing information governance strategies. However, these strategies commonly focus on the current or online data assets, and often neglect the hidden data. The latter is found in historical archives that typically consist of legacy backups of corporate networks. It is common for large organizations to have tens or hundreds of thousands of backup tapes stored in offsite vaults gathering dust. These vaults are protecting the tapes from corrosion and destruction, ensuring they are kept in readable condition. Since these corporate records are not going anywhere, they need to be included in the information governance strategy in order to control the potential hidden liability. Out of sight cannot be out of mind.
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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.