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Building a Business Case for a Data Privacy Program
When members of the Compliance, Governance and Oversight Council (CGOC) discuss data privacy and security today, I see an entirely new level of urgency. Enterprise data security programs used to be driven by the fear that breached customer and employee data could damage reputations and harm brands. Today, organizations recognize that data privacy is a vital competence driven by evolving regulations around the world and the increasing cost of data breaches and compliance failures. The 2016 Ponemon Institute Cost of Data Breach Studyrevealed the average cost for each lost or stolen record containing sensitive and confidential information increased from $154 to $158. Even a modest breach of 30,000 records at a small business or startup can cost more than $4.6 million.
In the United States, privacy legislation is targeted at specific industries or populations. These include the U.S. Privacy Act, the Children's Online Privacy Protection Act (COPPA), the Health Insurance Portability and Accountability Act (HIPAA), and many others. However, U.S. companies of all sizes and in all industries should recognize that the EU's General Data Protection Regulation (GDPR), going into effect in May 2018, applies to all foreign companies processing data of EU residents. Can your products be utilized by EU customers? If so, it's imperative that you are ready to comply with the GDPR.
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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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?