The EU General Data Protection Regulation (GDPR) entered into force on the 25th of May 2018. Since that time, companies have spent billions of dollars to ensure compliance with the new law. Just the top 500 U.S. companies spent about $7.8 billion to comply with the strict requirements of the GDPR. Despite the extensive media coverage of the GDPR, many myths still surround this rather new EU law. In this article, we discuss five of them. Myth 1: GDPR is an EU law that does not...Read more 0
About: Daniel V. Dimov
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The General Data Protection Regulation (GDPR) is a European Union law that applies not only to EU companies, but also to all companies collecting and processing the personal data of EU residents. The sanctions for breaching the GDPR are enormous (up to $24 million or 4% of the annual global turnover, whichever is greater). It is not a coincidence that the U.S. top 500 companies are expected to spend $7.8 billion to comply with the GDPR. In this article, we will provide a brief overview of...Read more 0
Patent trolls are not a new phenomenon. They buy patents for the sole purpose of extorting and suing companies. Since patent-related litigation proceedings are complex and time-consuming, the fees for defending a patent claim in court proceedings may exceed one million U.S. dollars. Therefore, many legitimate companies (especially startups) prefer to pay the requested settlement fees instead of defending their rights. According to CNN, just within the period 1990 – 2010, patent trolls cost investors 500 billion U.S. dollars. Patent trolls can target a limited scope...Read more 0
Cyber-security attacks that are becoming more and more common among various types and sizes of organizations may have serious effects on electronic communication networks, provision of services, and national security. Although significant breaches that affect many users or extensively disrupt the functioning of an organization usually receive extensive media coverage, smaller security incidents may remain unreported to the public. This can occur because of several reasons. For example, the affected organization may become aware of the incident later, it considers the incident insignificant (e.g.,...Read more 0
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