This week HIGH PERFORMANCE COUNSEL will be covering the 5th Annual Georgetown Cybersecurity Law Institute in Washington D.C.. In the immediate aftermath of a vast, damaging global cyber attack, it seems especially timely to be attending this most distinguished event. On any view, recent events are a wake-up call – a lightning strike that can’t be ignored.
The subject of Cybersecurity, along with many aspects of technology, has been relatively slow to take off within the legal sphere – but it would seem that this can only change – and must change soon. As law firms look for new avenues of advisory and transactional work – aspiring to new demonstrations of value for clients – this field seems to offer some attractive pickings. Time will tell. On any view, however, the importance to legal advisers of protecting their own organizations has never been more clear. It used to be that hackers liked credit cards but the world has moved on and so have they. There is a world of information and access that law firms represent as part of a larger client supply chain. There is a world of hurt that can be caused to clients and the firm itself from cyber infiltration.
As the legal sector moves toward a digital, always-on working environment, so the reliance upon technology – and the operational risk profile – alters dramatically. Some will seize the opportunity presented here to build better defence and response mechanisms. Some will not. Some will see the glint of revenue in a world of opportunity that is opening up. Others not. It’s the way it has always been.
As my old school motto reads: “Time Tells All”. It has never seemed more apt. How the industry responds to the lightning strike will be interesting. Very interesting indeed.