A more connected world brings opportunities for innovation, growth and profit. As the Internet of Things (IoT) becomes more integrated in daily life, its impact on industries such as manufacturing, technology, healthcare, transportation, communication, financial services and construction will be immeasurable.
To thrive in the blossoming marketplace of interconnected and communicating devices, companies must anticipate and prepare for opportunities, as well as risks and regulatory challenges. Husch Blackwell understands the IoT, and we help clients successfully leverage IoT products and services.
IoT applications often involve a wealth of intellectual property assets: patentable technology, copyrightable applications, trade secret processes, confidential and proprietary data, and valuable trademarks. Identifying and protecting those assets is essential to a company’s investment in, and success with, IoT. Our full-service Intellectual Property team advises companies on all phases of product development and intellectual property protection.
IoT exponentially increases the amount and types of data that companies collect, process, store and use. That valuable data brings great opportunity, and Husch Blackwell advises companies on using, monetizing and protecting it. The vast amount of IoT data creates serious security risks, however, and the regulatory landscape on privacy rights is ever-shifting.
Effective and updated data privacy and security policies and protocols are essential to navigating the IoT landscape. Our team supports clients across a wide range of industries with data security services for compliance and risk management, breach incident response and mitigation of future risk. Our team includes former computer scientists, as well as FBI agents and Department of Justice attorneys experienced in investigating and responding to data breaches.
Full-service IoT applications often have many layers of vendors and service providers. It is essential to understand and successfully negotiate each of these relationships along the IoT chain. Husch Blackwell frequently advises businesses on drafting, reviewing and enforcing a wide range of agreements that relate to IoT, such as development agreements, nondisclosure agreements, license agreements, hosting agreements and outsourcing agreements.
Healthcare organizations bear a huge responsibility in collecting, transmitting and storing personal health data. The use of digital medications, home-based medical devices, electronic patient medical record portals, wearables and mobile apps creates additional compliance requirements, potential for security and privacy breaches, and liability concerns. Our team develops and helps implement strategies that healthcare organizations can use to protect themselves and their patients’ data.
IoT requires a system of record keeping for tracking automated decisions, to facilitate financial transactions, providing a transparent review of a transaction, and providing an environment where such information is secure and reliable. Blockchain platforms are positioning themselves to carry out these functions (as well as many others). Blockchain can be the basis for a cryptocurrency for carrying out electronic financial transactions, smart contracts, financial systems, healthcare recordkeeping, an electronic inventory tracking ledger, a sourcing verification system and any number of applications where accurate, transparent and reliable data needs to be stored and accessible. Husch Blackwell attorneys are keeping abreast of the integration of Blockchain into mainstream applications and are prepared to advise clients on Blockchain-related issues.
The financial sector relies heavily on gathering and analyzing data to make profitable decisions. IoT is based in the transfer of data, meaning it has far-reaching potential to disrupt and improve this sector. Our team offers the guidance needed for financial services companies to take advantage of IoT.
As IoT develops, the regulatory landscape will continue to evolve. Husch Blackwell has a robust public policy team that carefully watches all new developments in this area and stands ready to assist clients in understanding national and state issues, developing regulations, maintaining compliance and finding legislative solutions.
Data Privacy and Security
Contracts and Licensing
Future Regulatory Requirements