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Insurance Coverage for Data Breach Claims
Data breaches caused by hackers or other forces outside the control of a business are a scary and expensive proposition for any organization that collects or retains personally identifiable information, or warehouses credit or financial information. According to a recent study by Symantec, an average data breach will cost an organization $5.5 million, including direct costs such as engaging forensic experts, outsourcing hotline support and providing free credit monitoring subscriptions, discounts for future products and services, and indirect costs such as in-house investigations and communication. See, Symantec Corp. and Ponemon Inst., “2011 Cost of Data Breach Study, United States” (2012) (http://bit.ly/TXNXS2). These costs are in addition to the costs of potential litigation (often in the form of a class action) by customers alleging that the company failed to take adequate measures to protect their data, and investigations by government agencies, such as the Federal Trade Commission (FTC), that frequently become involved when breaches affect a large number of consumers.
The risk of a data breach is not limited to financial institutions or businesses engaged exclusively in e-commerce. Any business that accepts credit cards as a form of payment, which includes e-commerce firms (as well as practically every business on earth), is at risk. In fact, smaller-sized brick and mortar business are frequently targets of hackers who assume, rightly or wrongly, that such businesses lack the ability to detect and prevent theft of customer data.
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.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
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.
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.