Canadian Lawyer InHouse

35 canadianlawyermag.com/inhouse April 2015 I n d u s t r y s p o t l i g h t suffers a data breach, Caron says organiza- tions need to make sure that not only the af- fected individuals but other entities, includ- ing the police, insurance companies and, yes, the relevant privacy commissioner are told. In terms of the form used, he says the infor- mation shared in a specific notification will vary depending on the type of breach. "I think that at a minimum, what hap- pened and the type of information at issue or what was compromised should be con- veyed," he says. "They should also possibly say what the organization is doing, [and] what it has done, to control the situation at the outset. What are the next steps? I don't think there's a specific form, but I think something that contains those elements will be ultimately constructive." Maloni warns against giving in to "In- ternet culture," where there's a tendency to expect in-depth information immediately. "People don't realize the length and the depth it takes to get to the bottom of these things. It's not as simple as, 'The bank was robbed, and here's what they took,'" he says, adding that printed letters may be more ef- fective in some cases than sending people an e-mail or taking out an ad. "There's an advantage to old technology. That is the de- fault option." Part of what guides the notification pro- cess should be the potential impact of the breach on individuals, says Kerr. "[With health care], you're talking about some of the most sensitive information someone may have," she says. "Whether or not it is particularly damaging to them as identity theft might be, in many cases it's the most humiliating information to have exposed." Could the lost information, if it were ex- posed, cause someone discrimination in getting a job because they have a health condition they haven't made public, for ex- ample? esTaBlish The PosT-crisis meTrics ThaT maTTer As bad as data breaches are, they need not cripple a company. Maloni, who says he has been involved in more than 100 cases, noted that in the case of public companies, a data breach might cause a stock price to dip, but some of those involved in high-profile incidents years ago are now trading up 10 times what they were. Instead, organiza- tions should spend time thinking about how they could better gauge the success of their mitigation and notification strategy — and it shouldn't just be that nothing bad has hap- pened lately. "It comes back to the fact that some- body's going to look at a Home Depot and they might think, 'You're not as safe as if I take a left turn and go into Lowe's,'" he says. "In some firms, it could be looking at traffic in stores. It's anything you can use to show that people have perceived what you've done is there, and that they still trust you." Maybe this is the ultimate goal of data- breach mitigation and notification: If your story ends well, the rest of the world will be all too eager to hear it. Except this time, you'll be in charge of the storytelling. This practical new handbook fills a void for financial and legal professionals seeking a financial and business perspective on intellectual property (IP). Managing Intellectual Property Value addresses all the frequently encountered issues with valuation and other financial matters, with reference to leading court cases as it relates to these issues. It makes IP valuation acquisition due diligence and damages calculations less daunting and helps focus your research on the right issues. Each chapter includes checklists and decision trees that concisely set out the key considerations to review and raise with your client. Understand the financial aspects of IP for better client results New Publication Managing Intellectual Property Value Suzanne C. Loomer, MAcc, CPA, CA, CBV Available risk-free for 30 days Order online: www.carswell.com Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800 Order # 986452-65203 $99 Softcover approx. 200 pages January 2015 978-0-7798-6452-2 00227IS-A48296 Shipping and handling are extra. Price(s) subject to change without notice and subject to applicable taxes.

• Cover