Like any other business field, companies in the technology industry must face certain legal risks. Data security, intellectual property, and similar areas of technology are constantly evolving and with these changes come the potential for theft, fraud, and misuse. Technology law was created to help control these types of issues that could arise when technology is mishandled. But what is technology law, exactly? Find out in this informative article.
Intellectual property makes up a bulk of technology-related claims. Unlike real property like a house or vehicle, intellectual property refers to intangible property, such as creative works covered by copyrights, patents, or trademarks. As technology continues to grow at a rapid pace, we have had to find new ways to protect our businesses and the intellectual property that they create. Due to the nature of claims relating to technology, it is not always easy to make a case in a courtroom. For this reason, many businesses rely on lawyers specializing in technology law to advocate on their behalf.
Technology law consists of multiple areas of law that have been combined into a single field. Some of these areas include:
- Trade Secrets
Data Privacy and Security
Another major component of technology law pertains to data privacy and security. When businesses fail to keep employee or consumer privacy protected, they face certain legal risks that could potentially result in costly lawsuits. As the bulk of modern data is saved in a digital format, it makes it more susceptible to fraud and theft. When cyber criminals steal sensitive information like credit card numbers and personal legal claims, class action lawsuits are often the result. When data is stolen from businesses, it is not just a few people that are targeted. Often times, thousands of pieces of private data are stolen all at once.
As technology continues to evolve over time, businesses are often forced to update their software to keep up. Providing consumers with better software can mean big profits. However, it can also result in various legal issues. When you create software, there are a number of provisions to consider relating to installation, troubleshooting, and warranties. Licensing agreement issues can occur when the terms are not clear or when a third party breaks the terms to an agreement. Software license infringement can also occur if a third party uses copyrighted material in any way that violates the rights of the copyholder.
Electronic rights are often found in publishing contracts. Before moving forward with a transaction, it is important for both authors and publishers to review these agreements to ensure that all parties agree on the terms. Legal problems can occur when either party, or a third party, chooses to break the terms and publish, print, distribute, market, or otherwise exploit the creative work in a manner that goes against the electronic rights agreement. Aspects such as royalty percentage should be thoroughly reviewed to ensure that there are no problems later on.
Technology Law and Your Business
Whether you are involved in a technology business or any other type of business that uses technology in your daily operations, knowing the ins and outs of technology law is important. You do not need to have a multi-million-dollar corporation to be affected by technology-related legal issues. Even small businesses can succumb to legal claims. If you company does any of the following, then you are likely impacted by technology law:
- Has a website
- Stores employee or consumer data digitally
- Sends emails
- Purchases software
- Processes online payments
- Generates and/or publishes online content
- Advertises products and/or services online
- Hires independent contractors to generate content
- Shares data or content online
Contact OFP Law For More Information
Law continues to remain behind technology, making it difficult for technology companies to fight lawsuits relating to intellectual property, unless they work with an experienced attorney. If you are involved in legal difficulties in association with technology, it is imperative that you work with a legal professional who specializes in technology law. For more information about technology law services, contact OFP Law today.