VLP Partner Melissa Krasnow Quoted in Law360 Article “Ohio’s Data Security Law to Test Incentive-Driven Strategy”
VLP Partner Melissa Krasnow was interviewed for the Law360 article “Ohio’s Data Security Law To Test Incentive-Driven Strategy.”
The article reported on the Ohio Data Protection Act, a new law designed to reward companies for steps they take to protect personal information rather than punishing them in the wake of lapses. The article noted that this new bill, which went into effect on November 2, 2018, is a departure from numerous data security laws in other states which threaten companies with fines, lawsuits and enforcement actions for failing to maintain reasonable cybersecurity programs.
But while companies are likely to welcome a more incentive-driven approach to regulation, the article noted that the jury is still out on whether this strategy will ultimately prove effective.
“In theory, if you just read the words of the statute, it seems like a good approach,” Ms. Krasnow told Law360. “The question will be how it’s actually implemented and if providing this safe harbor incentive will be enough to encourage companies to adopt robust cybersecurity programs.”
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