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<b><i>Online Extra:</b></i> Am Law 200 Firms Spending $7M on Cybersecurity Annually
With unfettered access to critical documents and information, law firms are an attractive target for hackers. Even when firms employ cutting-edge data security techniques, their possession of corporate data still multiplies the surface area of risk for that information. A recent survey of the Am Law 200, which tapped nearly one-third of firm CIOs for their experience, is showing the extent to which the highest grossing firms are spending to mitigate the risk associated with data security.
According to the findings of Chase Cost Management's 'What Price Peace?”survey'spending on information security at Am Law 200 firms rarely exceeds 1.9% of gross annual revenue. Firms spent around $6.9 million on average, though the survey cautions some of that may have gone to non-cybersecurity projects.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.