Ted Banks Examines the Implications of Internet of Things Products in “Compliance Week” Article
Partner Ted Banks was quoted in an article from Compliance Week about the ‘Internet of Things’: products and services that allow devices to communicate with each other and can include anything ranging from computer routers to baby monitors. In the article, Mr. Banks noted that every time a company powers some device with an Internet connection, it becomes a compliance issue. For instance, if a product crashes because of Internet trouble, that could constitute a breach of contract. “So part of the risk assessment by management should be examining what’s in the contract. Are you protecting yourself from the legal implications of a failure like this?”
At the upcoming Practising Law Institute (PLI) conference on Compliance and Ethics, Mr. Banks will be organizing a session on this topic. “What we’ll be doing at the PLI program is trying to go through every type of technology and say, ‘here are the compliance implications of that technology,’ ” says Banks. “If you’re using some sort of app that relies on what we lump together as Big Data, have you considered all the implications and what might those be as far as compliance risks are concerned?”
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