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Lessons Learned from Recent FTC Data Security Enforcement Orders
Amid the nation-wide "work from home" routine necessitated by the COVID-19 pandemic, an extraordinary number of businesses turned to the Zoom Video Communications' video conferencing platform. As the use of the Zoom platform increased, so did scrutiny of Zoom's data security practices, which in turn produced a flurry of class action lawsuits against Zoom for "violation of its duty to implement and maintain reasonable security procedures and practices." Like many technology providers, Zoom's Terms of Service (update as of April 13, 2020) stated that Zoom will "maintain reasonable physical and technical safeguards to prevent unauthorized disclosure of or access … in accordance with industry standards."
The proposed class actions against Zoom are illustrative of a challenge many businesses face: What is "reasonable" data security? Organizations in regulated industries typically have more data security parameters, e.g., Health Insurance Portability and Accountability Act (HIPAA), Vermont's Securities Regulations Cybersecurity Procedures and South Carolina's Insurance Data Security Act. Businesses operating outside regulated industries must sift through a patchwork of laws, guidance and enforcement actions.
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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?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
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.