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Is Your Data Breach Response Plan Good Enough? Stress Test It!
As the chances of a data breach incident increase, savvy firms and businesses have invested time and thought in a response plan. But plans never survive first contact with the enemy. Stress test your incident response plan to find and resolve its weaknesses while time is on your side.
According to the Ponemon Institute's 2016 Cost of Data Breach Study United States:
- Lost business is the biggest financial consequence of a data breach. Taking steps to retain customers' trust reduces a breach's long-term financial impact.
- The longer it takes to contain a breach, the more costly it becomes. Breaches contained within 30 days of discovery cost an average of $5.24 million. If it takes more than 30 days to contain the breach, the average cost increases to $8.85 million.
- The average breach in 2016 cost $221 per record. Having an incident response plan and team in place, employee training, board-level involvement, and a CISO in position are associated with reducing the cost of data breach $56 per record.
As compelling as these conclusions are, law firms and their clients have even more reasons to establish a data breach incident response plan (IRP). Their role as hubs of sensitive information — clients' and employees' Personally Identifiable Information (PII), trade secrets, mergers and acquisition activity, etc. — make them irresistible targets for thieves.
Awareness of the threats rightly galvanizes leadership to develop an IRP and to invest in cybersecurity services.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
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?
"Holy Fair Use, Batman": Copyright, Fair Use and the Dark Knight
The copyright for the original versions of Winnie the Pooh and Mickey Mouse have expired. Now, members of the public can create — and are busy creating — their own works based on these beloved characters. Suppose, though, we want to tell stories using Batman for which the copyright does not expire until 2035. We'll review five hypothetical works inspired by the original Batman comic and analyze them under fair use.