Bernstein Shur Shareholder Dan Mitchell Discusses Cyber Danger in the Retail World at ICSC U.S. Shopping Center Law Conference
PORTLAND, Maine (November 2, 2015) – Bernstein Shur shareholder Dan Mitchell spoke about cyber danger in the retail world at the International Council of Shopping Centers’ (ICSC) U.S. Shopping Center Law Conference in Phoenix, Arizona last week. In a session titled, “Cyber Danger in the Retail World: Data Security Breaches and How Best to be Ready,” Mitchell and fellow attorney Steven Roosa, of Holland & Knight LLP, discussed why breach preparedness is important in today’s environment.
“More than 40% of companies experienced some type of data breach in 2014,” explained Mitchell. “Being unprepared can significantly add to both direct and indirect costs, including management resources and lost productivity. Perhaps more importantly, it can result in significant damage to your business’s brand reputation.”
The United States Government has identified that cybersecurity is “one of the most serious economic and national security challenges we face as a nation.” The average cost of a retail store breach, per company, in 2014 was $8.6 million according to Ponemon Institute. During the session, Mitchell and Roosa navigated attendees through management considerations to ensure a company is best prepared for these risks. These considerations include regulatory requirements, data inventory and collection, points of vulnerability and risk, communication preparedness and training of employees and vendors, among others.
About Bernstein Shur
Widely regarded as one of New England’s most entrepreneurial law firms, Bernstein Shur has more than 100 attorneys in offices in Maine and New Hampshire. Founded in 1915, the firm provides practical and innovative counsel in the areas of business law, litigation, and municipal law to clients throughout the region and around the world. Bernstein Shur is Maine’s exclusive member of Lex Mundi, the world’s leading association of independent law firms. More information is available at www.bernsteinshur.com.
About International Council of Shopping Centers
The ICSC, founded in 1957, is the global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, investors, retailers, brokers, academics, and public officials. More information is available at www.icsc.org.