The Internet of Things (IoT): Helpful or Harmful?
The outstanding progression of technology in the 21st Century has resulted in the phenomenon known as ‘the Internet of Things’; whereby devices can connect via the internet in order to communicate not only with us, but also with each other. The aim is to create a smarter way of life.
Many devices are already available to consumers, such as smart TVs, smart cars and smart phones. We can even control heating at home using our phones in order to lead a more cost effective life. However, ethical, legal and security issues surrounding these innovative devices remain for consideration.
With the vast amount of data collected through the numerous devices that communicate with one another via the Internet there comes an increased risk of security breaches, including data leaks or threat from external networks/hackers.
This problem is furthered by the fact that technology is advancing faster than that of the security techniques, meaning that many existing security measures are now insufficient for the application to IoT.
Due to the personal nature of the information processed by IoT devices, the data can provide substantial insights into an individual’s movements, preferences and activities. For example, take an IoT boiler attachment, which self-regulates its temperature by connecting to your phone (so that the boiler knows when you are home or away, and awake or asleep). From this, we can work out when a house is likely to be empty, and therefore more vulnerable to crimes such as burglary.
Furthermore, doctors use IoT technology to hold vital information on patients in order to prescribe their required medication; should this information be hacked, the consequences could be life threatening. Whilst these examples may be extreme, they highlight the severe consequences that could occur as a result of a security breach.
Data protection goes hand in hand with security risks. Under the current data protection regime there is greater emphasis on the protection against unlawful or unauthorised processing, access, loss, destruction or damage of data information. This increased scrutiny of how our personal data is protected should put pressure on designers and manufacturers of IoT devices to ensure that security provisions are up to date and effectively take into account the type of data and the risk and consequences presented by IoT devices. The EU Commissioner’s report already recommends that IoT devices are designed from the onset with privacy and data principles in mind, such as the right of deletion and the right to be forgotten.
With companies potentially holding this vast collection of data and information about IoT users and their habits, there is an opportunity (and temptation) to generate additional revenue by selling the same to third parties, including advertising agencies. For example, by tracking our likes and dislikes, advertisements can be tailored to a certain individual. Likewise, there have been speculations that phones are listening to our conversations and device cameras are watching in the background, but many operators have denied this.
Ultimately, whilst advertising may be a useful way to learn about products or experiences, the way in which advertisers gain information about us has the potential to breach ethical guidelines.
There is an undeniable increased reliance on technology to automate our lives. The problem arises when determining liability. For example, who is at fault if technology fails or gets something wrong, or hackers breach the security of the IoT device and cause damage in the real world? Is the user or the provider or someone else entirely liable? It would then also be necessary to consider whether or not the matter would be a criminal or civil offense; however the law has yet to catch up.
The question stands as to whether IoT is innovative (in the way that it helps to facilitate an easier modern way of life), or dangerous (due to the many legal, ethical and security implications associated with technological advances). What is clear is the concern of how security provisions and the law can keep up with rapid technological advances.
Moore Blatch headline sponsor for Silicon Cup 2019
The Silicon Cup Regatta, the number one networking event on the water for IT professionals, has announced Moore Blatch as its headline sponsor for the second year running.
Launched in 2000, the Moore Blatch Silicon Cup regatta attracts some of the world’s leading IT firms. During that time, 7,000 people have taken part, competing in 450 yachts. The regatta has also raised over £900,000 for charity.
Peter Jeffery, partner, Moore Blatch, comments: “As specialists in the technology industry and keen sailors ourselves, we were very keen to continue our relationship with this fantastic event. It provides an excellent networking opportunity for many of the best minds and businesses working in today’s rapidly changing IT environment. Many new businesses relationships have been formed as a result of the Silicon Cup. Additionally, the Silicon Cup has helped change lives as a result of the significant sums it has raised for charity.”
Sean Frolich, Chairman of the Silicon Cup Committee, said “Moore Blatch have a formidable reputation as a leading law firm in the South with specialist expertise in the technology sector. They have worked with many of the big names in the industry, advising on major deals. They have also advised many privately owned technology companies in all matters commercial. This, combined with their passion for the water, means they are the ideal sponsors for this event.”
Moore Blatch is one of the largest law firms working in the technology sector and over recent years has advised on over £1 billion of transactions in this sector.
The Moore Blatch Silicon Cup Regatta takes place from 26th – 27th September on the Isle of Wight.
Scaling Up for Success
Moore Blatch has recently partnered with Smith & Williamson to deliver a series of four Scaling up for Success seminars in 2019 to help founders and senior management teams in businesses that have an ambition to grow and ‘scale up’.
10 firm-wide promotions at Moore Blatch
With the firm’s continued growth and success, Moore Blatch, a top 100 law firm focused on supporting people, families and growth businesses for the long term, is delighted to announce 10 key promotions firm wide.
Transaction top tips
We are seeing numerous transactions in the TMT sector, many of which are a consolidation of the market. Additionally, a number of these transactions are bolt-ons with businesses adding additional expertise.
Moore Blatch advises Crave Interactive Limited on its investment from Thailand’s True Corporation
Moore Blatch has advised Crave Interactive, the world-leading developer of cloud-based digital guest service solutions for hotels, on its major investment by True Corporation, Thailand’s leading telecommunications provider.
The deal provides a majority investment from True Digital & Media Platform Company Limited, a wholly owned subsidiary of True Corporation Public Company Limited. The investment will help to drive an innovative rental model that will accelerate the adoption of digital guest service solutions to replace antiquated paper solutions in hotels.
Crave will be making a significant investment into the Asia Pacific market, and will be leveraging synergies with True’s technology, market positioning and partnerships in the region. It will also invest further across the Americas and Europe, where it is already well-established as an industry leader.
Gareth Hughes, CEO at Crave Interactive, commented: “
We see incredible opportunities in the convergence of voice, entertainment, communication and smart controls to develop solutions that delight guests and help hotels deliver top-class services”. Hughes continues: “
We were delighted with the support provided by Jeremy, Hayleigh and the rest of the Moore Blatch team – they did a superb job by helping us overcome numerous obstacles to get the deal over the line”.
Commenting on the deal,
Jeremy Over, Partner at Moore Blatch, said: “
We are thrilled to have been involved in this deal, which sees Crave Interactive poised for a truly exciting phase of growth. We wish the team at Crave and True Corporation every success for the future.”
The team at Moore Blatch was led by
Jeremy Over (Partner) and also included
Hayleigh Sears (Solicitor),
Cherie Lawson (Paralegal, Corporate),
Samantha Grose (Trainee Solicitor, Corporate),
Charlotte Boatman (Trainee Solicitor, Corporate),
Dorothy Agnew (Partner, Commercial),
Katherine Maxwell (Partner, Employment),
Emma Edis (Associate, Employment) and
Rachael Kelly (Solicitor, Commercial Property).
True Corporation was advised by Linklaters.
Rotterdam’s Port Invest takeover of Nature Group advised by Moore Blatch
Moore Blatch has advised Rotterdam based Port Invest B.V. on its recommended cash offer for all of the issued and to be issued share capital of Nature Group plc other than the shares already held by Port Invest.
Port Invest was founded in 1986 and provides maritime and oil logistic services to sea-going vessels, major oil companies, inland navigation, offshore industries and tank storage facilities.
Nature Group plc, which delisted from the AIM market last year, and its group of companies provide reception and treatment services for oily and polluted waste waters (slop disposal), the ownership and application of intellectual and proprietary rights related to such treatment, and the provision of reception and treatment plants for oily waste in onshore and offshore locations.
Given that the target had recently been listed on the AIM market, the offer was governed by The Takeover Code.
Corporate partner Manmohan Singh commented “We were delighted to assist Port Invest with its recommended offer. It was a demanding transaction delivered against a challenging timetable. We very much look forward to helping Port Invest integrate Nature Group. This transaction is a great example of the value that we can add to our clients by combining our diverse London-based expertise with our regional coverage in a seamless service.”
David Scott and James Dewhurst of Alexander David Securities Limited acted as financial advisers to Port Invest. Alexander David Securities Limited is a London-headquartered corporate adviser providing investment brokerage and corporate advisory services
2019 resolutions for selling your business
If the festive break has hardened your resolve to sell your business, these handy tips on what to do in advance of a sale may make the whole process easier – and secure you a better price.
Moore Blatch advises Poole based Venture Engineering on acquisition of Fylde
Poole headquartered precision engineering specialist Venture Engineering Group has purchased Fylde CNC Specialists. Fylde is a component manufacturer for automotive brands as well as for the aerospace, medical, hydraulic and pneumatic sectors and is based in Preston, Lancashire.