Privacy and data security have rocketed to the top of the list of concerns for all corporate boards. Whether you are a technology company, a biotech, or a traditional widget maker, your company has confidential information about its products, customers and employees. And that information has to be protected as a matter of law, both by statute and under contracts with your customers and suppliers.
As in-house counsel, carrying out your responsibilities means not just protecting corporate information, but safeguarding customer and employee information as well. This means that more than a passing awareness of applicable privacy and security legal regimes is needed, yet these regimes are evolving rapidly. Failing to protect privacy or provide sufficient data security can result in extremely detrimental consequences to your company, and to the individuals who work at the company, in the form of the theft or loss of intellectual property, identity theft, and regulatory penalties and compliance agreements.
- Colin Zick, Partner, Chair, Privacy & Data Security Practice, Foley Hoag LLP
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