For law departments, we see an increasing amount of cyber responsibility – which is largely a positive but may also have some negative effects. The firing of law department members because of poor cyber management will continue to be a trend in 2018. We also see an increase in cyber class actions, which will keep law departments busy in the coming year. Finally, we see corporate counsel needing to proactively respond to increasing complexity in the global cyber landscape – particularly for global companies who will need to get up to speed, fast, on GDPR.
In turn, the law firms that can better assess, protect and test their systems will get the lion’s share of a growing and increasingly lucrative cyber market. All others will be left with a shrinking share of the market. Moreover, law firms will continue to face reputational damage and even closure from hacks. As we see in the survey, law firms have no choice but to improve or risk obsoletion.
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