The Technology Act - read in the blog of the company COREDO

The Technology Act

Updated: 08.06.2020

Technology companies struggle with numerous problems in daily operations. Due to the non-stop development of modern technologies multiple types of misusing take place, for example misuse of IP rights. The task of the Technology Act is to assist in dealing with similar troubles coming up because of the technology mishandling.
Today the vast majority of claims handled by courts revolve around intellectual rights. Keeping safe the intangible property, that IP rights are, includes protecting copyrighted patents, works and trademarks. Since the technologies develop truly in rapid speeds, dealing with IP protection becomes very demanding for companies. This is why many of them decide to use help of lawyers who are experts in technology legislation field and will protect their business.
So, what exactly is the Technology Act? It consists of multiple sections of law like trademarks, confidentiality, trade secrets and licensing.

Confidentiality and Data Safety

Companies are supposed to protect confidentiality of the employees and customers. Otherwise their activity can be proceeded by law and cost firms heavy penalties. Modern day data is exposed to theft enormously since it is collected on digital media. In the case when corporate databases get abducted by cybercriminals there might even be lawsuits filed against companies. Moreover, these theft accidents do not only affect a couple of people but a big amount of them since databases usually store gigabytes and terabytes of personal information.

Software Licensing

Legal problems can also come from more advanced software. Even thou offering more complex and sophisticated software is highly profitable. It needs to be taken into consideration that software development may be very challenging about contemplating numerous aspects of it: troubleshooting, installation, guarantees. There might also be trouble with a license agreement whenever the license conditions are not specified clearly enough, or they are violated by the 3rd party. Software license violation applies as well to the copyright materials used in violation with holder’s or issuer’s rights.

Technology Act in your business

Sometimes even when implying strict procedures and being extremely cautious, it is hard for companies to completely prevent accidents with data leakage or cybertheft. It is crucial though to be informed in the field of technology legislation to keep the company safe. Most of lawsuits filed in regard of technology include breaking the terms of use, loss and thefts of data, source code misuse or web page collection.
It becomes essential to cooperate with technology law specialists and lawyers because laws are falling behind the new technologies which effects into companies handling lawsuits about IP. COREDO has broad experience with technology companies and will help yours keep the intellectual property safe and obtain a software license. Our lawyers are prepared to provide you with more information on this topic.


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