Posts Tagged: "Cybersecurity"

East Palo Alto, CA-based web security firm Finjan Holdings recently filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) which disclosed a patent assignment agreement made with Armonk, NY-based information technology giant IBM (NYSE:IBM). Under the terms of the agreement, Finjan Blue, a newly formed subsidiary of Finjan, will acquire a series of IBM security-related patents with potential pathways for the IBM and Finjan to work collaboratively on development of those patented technologies.

Cybercrime seemed to be in the news daily in 2016. From the hack of the Democratic National Committee email accounts to the massive data breaches suffered by large technology companies, a major restaurant chain, and numerous government agencies, the news seemed inundated by a steady stream of high profile cybercrime. What is in store for 2017? Given the proliferation of electronic devices and data in our society, we can reasonably expect cases of cybercrime to continue to increase in number and complexity in the new year.

On the menu this week for Other Barks & Bites, the Supreme Court hears oral arguments in a case challenging the Lanham Act’s disparagement provision, a six-figure damages verdict goes in favor of former USPTO Deputy Director Russell Slifer, a TTAB petition is filed to challenge the trademark application for an NFL franchise currently in the relocation process, an announcement by a Japanese academic-industry research project that claims to have doubled the effectiveness of solar cell panel conversion rates, the FTC takes action against a pharmaceutical company and much more.

Polsinelli, an Am Law 100 firm with offices in 20 cities across the U.S., announced that Jarno Vanto joined as shareholder in its New York office. Vanto is a member of the firm’s Intellectual Property Department where he will assist clients in navigating the complex world of cybersecurity and data privacy, and advise European technology companies on their U.S. operations.

In creating a privacy and security plan, IOT companies should be mindful of regulatory enforcement for failure to fully comply with their own advertised practices. For example, companies should honor representations made to consumers regarding privacy and security practices, or risk regulatory scrutiny. If not, the FTC may bring an enforcement action, which it did against IOT company, TRENDnet, Inc. According to the FTC, TRENDnet failed to implement reasonable security practices, monitor security vulnerability reports from third parties, test and review potential security vulnerabilities, and implement reasonable guidance for its employees, and thus was in violation of Section 5(a) of the FTC Act, 15 U.S.C. § 45(a). The case settled, and the terms of the settlement prohibited TRENDnet from misrepresenting its privacy and security practices and required it to establish a comprehensive security risk program.

In November 2016, European Payments Council (EPC) launched the SEPA Instant Credit Transfer scheme. With this move, the payment coordination body of the European banking industry has placed over 34 European countries at the center-stage of mobile payments. This scheme will not only spearhead adoption of instant mobile payments and transactions worldwide, but also push the major economies of the World to start regulating the unstructured and incomplete mobile payments legal framework. Growing adoption of mobile payments and steps taken by other regulatory bodies of the world like EPC will certainly push USA to update its own regulatory and legal framework.

Over the past few years we have seen a surge in cyber attacks against well-known organizations, each seemingly larger than the last. As cybercriminals look for innovative ways to penetrate corporate infrastructures, the challenges for brand owners to protect their IP has steadily grown… Most organizations have implemented stringent security protocols to safeguard their IT infrastructure, but conventional security measures don’t provide the critical intelligence needed to analyze cyberattacks that propagate in the Deep Web and Dark Web. It is fundamentally harder to navigate a medium where web pages are unindexed and anonymity can hide criminal activity.

High value information—identified as trade secrets, IP mappings, product designs, financial data, confidential business information and similar files and documents—require an extra level of protection because of their value to cybercriminals and malicious insiders. The last thing an organization wants to do is make the theft of high value information easier by leaving vulnerability gaps in security practices. A malicious actor will exploit those each and every time.

In July, Kilpatrick Townsend and Ponemon Institute released their findings from The Cybersecurity Risk to Knowledge Assets study, which confirmed most companies’ worst fears — their intellectual property is at risk every day, and theft is rampant. The 600 survey respondents also disclosed that most companies are unsophisticated when it comes to identifying their key intellectual property (particularly trade secrets) and protecting that adequately. And, most surprisingly, the expected costs associated with loss of these important assets was estimated by nearly seven out of ten respondents to total more than $100 million.

Biometrics, or the measure of human physiological characteristics as expressed by data metrics, is becoming a much more valuable sector of high tech in recent months. By 2020, the global market for biometric systems should surpass $24.4 billion according to data released by Markets and Markets, with the sector growing at a compound annual growth rate (CAGR) of 17.5 percent between 2015 and 2020. Biometrics has applications in a couple of growing tech sectors, including e-commerce, e-passports and smartphones. Computer software and hardware developer Microsoft Corporation (NASDAQ:MSFT) of Redmond, WA, is looking to apply biometrics tech to its smartphone products.

It has become more apparent in recent years that cybercriminals looking to profit from sensitive data are zoning in on law firms and their wealth of client information. Get ahead and prepare for clients asking questions about your security posture by closely examining your firm’s environment. Taking this preemptive action will help you detect gaps where confidential client data could be at risk, regardless of where and on what devices the information is stored. This assessment is easy to accomplish through the many proven services currently available in the market. Understanding where exactly your firm’s sensitive client data is being stored and how it’s being used is a critical first step to safeguarding that information.

Alston & Bird recently announced that former federal prosecutor Michael Zweiback has rejoined the firm as partner in its Privacy & Data Security Practice and Government & Internal Investigations Group, bringing not only extensive experience in cybersecurity, but also an exceptional background in white collar criminal defense and government enforcement litigation. Based in the firm’s Los Angeles office, he arrives from Arent Fox LLP, where he was a partner and co-leader of its Cybersecurity and Data Protection Group.

According to the Association of American Publishers, the publishing industry as a whole has lost $80 to $100 million dollars to online piracy annually. From 2009 to 2013, the number of e-book Internet piracy alerts that the Authors Guild of America has received from their membership had increased by 300%. During 2014, that number doubled. I’m certain that in 2016, the statistics will go even higher.

Chinese legislators have attempted to enact anti-terror legislation purportedly designed to protect Chinese citizens against terrorist threats. In late December, China passed a law requiring both telecommunications and Internet companies operating in the country to provide decryption, technical interfaces and other assistance to public and state security organizations to conduct investigations of potential terrorist activities. The tech sector has misgivings about Chinese regulations that would force the handing over of sensitive data. Imagine a leak of encryption keys leading Chinese hackers to degrade performance of a foreign tech provider, all in the name of promoting indigenous innovation. That’s a pretty extreme scenario, but one that’s not completely unimaginable considering recent cybersecurity headlines.

Yet another tech developer known for consumer electronics is getting into the autonomous vehicle market, a sign that we can continue to expect disruption for the conventional automaker model in that sector. A recent data breach settlement underscores the growing cybersecurity threat the world faces. The latest theory about alien life on other planets starts to fizzle and fade. Also, we hear some stories featuring notable names in the tech business world, including Michael Bloomberg and Elon Musk.