Phil Schenkenberg shared his insight with the Star Tribune in the article, “Minnesota small businesses must prepare for cyber threats.” As the article attests, businesses are better off positioning themselves to defend against and recover from cyber attacks – the cost to prepare and protect can be far less than the expense of being unprepared.
Schenkenberg shared that there is also a financial incentive for business owners beyond preventing delays and operating losses caused by security breaches and other security threats. Cyber and privacy due diligence are increasingly important aspects of corporate transactions, as buyers can negotiate lower-than-demand prices if the target’s data security program is immature or its data has been compromised.
The article follows Cyber Security Summit, of which Briggs sponsored a breakout session for small to midsize businesses Briggs attorneys Cyrus Malek and Brett Hebert helped plan and presented at the breakout session.
Read the full article.