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The GDPR: Teeth, and Considerations for Corporate Legal Counsel and Discovery Teams
The struggle is real. With the EU's General Data Protection Regulation (GDPR) set to take effect in May of 2018, the serious implications for corporate legal counsel and e-discovery teams are difficult to deny. Among other aspects of its broad reach, the GDPR extends compliance requirements to both data controllers and “processors,” a distinction that certainly includes e-discovery data processing in the context of litigation and investigations. Complicating matters further, the Regulation affords data subjects the “right to be forgotten,” a key aspect that affords individuals that right to request erasure or removal of data from systems and databases, presenting potential new challenges for the collection and hold of data in connection with U.S. discovery requirements.
In addition, the GDPR imposes certain organizational requirements, accountability measures, breach notification requirements and processing system assessments, not to mention specific limitations around the transfer of personal data to third party countries not deemed to provide adequate personal data protections (here's looking at you, Uncle Sam). And all of this is backed by some serious teeth: a tiered financial penalty regime stretching up to 4% of annual global revenue turnover. That can make for some astronomical numbers, and while it's unlikely that such steep fines will be commonplace, it is clear that there is a concentrated effort on the part of regulators to place a level of seriousness around data protection and privacy compliance that rivals anti-trust considerations. The purported penalty scheme and steep financial consequence of non-compliance to the GDPR is, without question, an effort to get companies of all stripes to stand up and take notice.
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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.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.