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'Tangible Property' Defined in the Computer Age
With the increasing use of social media for marketing and advertising purposes, businesses of all sizes are seeking insurance coverage for various types of Internet-based exposures. Among others, companies are looking to insure against claims raised by users viewing or otherwise accessing a company's Internet Web sites and advertisements for damage to hardware, data, information, and other computer components.
Policyholders seeking coverage for cyber-type loss typically have done so under traditional comprehensive general liability (“CGL”) policies that insure against physical damage to tangible property and/or loss of use of tangible property. Whether a claim is covered under a standard CGL or property policy depends on the definition of “tangible property,” with courts generally finding that damage to computer hardware or similar components triggers such coverage, while damage to computer data and information does not. In the recent decision of Eyeblaster v. Federal Insurance Company, 613 F.3d 797 (2010), the Eighth Circuit construed the definition of “tangible property” to include the user's computer, finding loss of use of a computer to be covered “property damage.”
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.