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Read the Fine Print
The difficulties of securing important company and customer data are not new to franchised businesses, but the scale of the problem continues to increase. A new white paper by insurance consultants Peter R. Taffae and M. Damien Magnuson indicate another threat: inadequate insurance coverage when security breaches occur. See, “What Every Insurance Professional Must Know About Network Security and Privacy Liability,” 2nd ed., Peter R. Taffae and M. Damien Magnuson, ExecutivePerils.
Insurers are adding new restrictions to their cyber liability coverage, even as industry executives incorrectly assume that their standard insurance policies provide them with protection. “While limited coverage for some privacy, media or data breach exposures may be included in 'traditional' insurance programs comprised of commercial general liability, umbrella liability, fidelity/crime, and kidnap, ransom and extortion policies, there will inevitably be substantial gaps and plenty of room for coverage disputes,” wrote Taffae and Manguson. “Most underwriters of traditional types of insurance contend that it is not the intent of these policies to pick up cyber exposures. Changes have been made, and are continuing to be made, to these forms to clarify the intent not to cover cyber exposures.”
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.
Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
Mission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."