What legal measures can I take to protect my company from cyber attacks?
May 26, 2022 | 80,00 EUR | answered by David Rüppel
Dear lawyer,
My name is Guido Hirschfeld and I am the managing director of a medium-sized company in the IT services sector. In recent months, the number of cyber attacks on companies has increased significantly, and I am very concerned about the security of my company. We have sensitive customer data and trade secrets that could cause great damage in the event of a successful cyber attack.
Currently, we have already taken some technical measures to protect our IT infrastructure, but I am wondering if there are also legal steps we can take to protect ourselves from cyber attacks. Are there specific laws or regulations in the field of business law that can help us protect our data and intellectual property?
I am concerned that a successful cyber attack could not only mean financial losses for our company, but also jeopardize our reputation and customer relationships. Therefore, I want to do everything in my power to protect my company as best as possible from such attacks.
Can you please advise me on what legal measures we can take to enhance the security of our company against cyber attacks? Are there specific contract clauses that we should include in our business relationships? Or are there specific insurances that could support us in the event of a cyber attack?
Thank you in advance for your help and support.
Best regards,
Guido Hirschfeld
Dear Mr. Hirschfeld,
Thank you for your inquiry regarding the security of your medium-sized IT company against cyber attacks. It is understandable that you are concerned about the security of your sensitive data and business secrets, especially given the increasing number of cyber attacks in recent months.
In the field of business law, there are indeed various legal measures you can take to protect your company against cyber attacks. First and foremost, it is important to ensure that your IT infrastructure is up to date and has adequate security measures in place. This includes, for example, firewalls, antivirus programs, regular updates, and training for your employees in IT security.
Furthermore, you can also include specific contract clauses in your business relationships to protect your interests. For example, you can agree on liability waivers in case of data loss or cyber attacks. Provisions on confidentiality and protection of intellectual property can also be included in your contracts.
Additionally, there are now specialized cyber insurance policies that can financially protect companies in the event of a cyber attack. These policies typically cover the costs of restoring the IT infrastructure as well as potential damages claims from customers or business partners.
It is advisable to seek advice from a specialized business law attorney to identify and implement the appropriate measures for your company. A good attorney can help you find individual solutions tailored to the specific needs and risks of your business.
I hope this information is helpful to you and I am available to answer any further questions you may have.
Best regards,
David Rüppel
Business Law Attorney
