Let’s face it: IoT risk mitigation is abstract. And, with this in mind, can companies clearly and objectively identify their own risk? And, once it’s been identified, can they accurately define concrete steps to mitigate it?
Risk identification and, to a lesser degree, mitigation are fuzzy concepts that linger in the atmosphere. Organizations intellectually accept the idea of practicing risk mitigation, but don’t often proactively embrace it until an external trusted advisor mentions the real dangers of not mitigating risk.
It stands to reason that, to mitigate security risks, companies would bake security into their IoT devices. However, in the design phase, most companies do not implement true security - due to time and budget constraints. In the pre-production phase, they sometimes ignore legitimate evidence of security vulnerabilities on their firmware in order to push their products to market. Yet, with a good attorney in their corner, they can face and embrace the not-so-scary ideas of risk identification and mitigation sooner rather than later.
Attorneys swim through the world of risk every day – it’s a key component to how they effectively serve their clients. In the IoT space, attorneys work with clients to measure risk and then map steps to mitigate it, often with the help of other technical and non-technical professionals. They spell out the possible perils of not leveraging risk mitigation strategies and translate the abstract nature of IoT risk identification and mitigation into plain English (most of the time!) for clients.
Ultimately, IoT attorneys advocate for safety – hence low risk – for their clients and their IoT products. They want to keep their clients’ products out of the headlines and their clients out of court. Or, on the flip side, they want to defend clients who took steps to mitigate risk.
Continually, IoT attorneys protect against this specialized risk in a highly-connected world. They keep up on the latest IoT regulatory developments and work with companies to ensure compliance to shore up their devices for the good of the company, its customers and its stakeholders.