While certain state legislatures may be getting closer to understanding digital assets and digital accounts in trusts and estates, using digital assets and digital accounts as evidence in the federal court system remains a murkier proposition. In United States vs. Vayner, 2014 WL 4942227 (Oct. 3, 2014 2d Cir. ), a jury had convicted the … Continue reading
The U.S. Food and Drug Administration (“FDA”) released two new sets of guidance regarding the use of social media to disseminate information about prescription drugs and medical devices. This guidance supplements years of FDA warning letters and untitled letters sent to manufacturers, packers or distributors in regulated industries (each a “Regulated Entity”). We have previously discussed … Continue reading
The U.S. Food and Drug Administration (“FDA”) has issued numerous Warning and Untitled Letters[1] delving into very specific aspects of social media (such as “likes” on Facebook, tweets on Twitter and posts on Tumblr, collectively, the “Social Media Letters”). Recently, the FDA warned a drug manufacturer and its agent that even the “About Us” or … Continue reading
For an increasing number of startup ventures—particularly ventures with an integral online presence—protecting the intellectual property of the entity extends beyond agreements and legal filings. Protecting the assets of a venture may require a preemptive domain strategy against cybersquatters. Cybersquatters are individuals who register domain names that are similar to a legitimate company’s domain and frequently … Continue reading
There are three distinct aspects of cyber-security that should be addressed by directors: prevention, detection and, if a company is publicly traded, disclosure to the Securities and Exchange Commission. Part I of our posting addressed prevention and detection matters. This Part II addresses disclosures and some questions to consider. Disclosure Public disclosure of a security … Continue reading
The use of cloud computing, mobile devices and social media add significant corporate risks beyond the traditional security risks arising from networks, databases and e-mail. A cyber security breach can cause serious operational disruptions, create financial costs and damage a company’s brand and reputation. As part of risk management, a company’s board of directors should … Continue reading
As commerce shifts to online shopping and consumers increasingly rely on user reviews, some researchers are predicting that by year end 10-15% of consumer reviews will actually be fake reviews (either positive or negative) paid for by advertisers or their agents. Gartner Says By 2014, 10-15 Percent of Social Media Reviews to Be Fake, Paid … Continue reading
As more companies recognize the brand value created and sustained through social media, there is greater interest in preserving social media accounts for company use and retaining the follower, member or “friend” base that has been built over time. Simultaneously, an increasing number of employees believe that the social media accounts are not company property … Continue reading