How CLOs Build Organizational Resilience and Lead During Crises
The risk of corporate cyberbreaches has become not just a potentiality but an eventuality with severe implications for basic business continuity and significant liabilities related to preemptive (in) action and post-breach responsiveness. As multinational enterprises embed information technology deeper and deeper into operations, products and services, they face unforeseeable cybersecurity vulnerabilities that expose management systems as well as critical physical and intellectual assets to this inevitable cyberbreach risk. Beyond the immediate damages resulting from data loss, companies must also prepare for a tailspin of consumer confidence, reputational problems, stock devaluation, credit downgrades and costly regulatory investigations.
This report, Into the Cyberbreach: How CLOs Build Organizational Resilience and Lead During Crises, analyzes insights and best practices shared by general counsel participants during the tenth annual Lex Mundi Summit in Amsterdam, which highlighted three broad ways that general counsel contribute to organizational resilience and provide leadership:
1. Strengthening resistance to attack through basic cyber-hygiene
2. Preparing to respond to the inevitable cyber-crisis
3. Adapting the legal department to permanent cyber-vulnerability