How Companies Can Use Big Data As A Strategic Asset

Intellectual property partner Gary Weinstein and associate Hudson Peters published an article for Law360 that explains what comprises big data sets, discusses how companies should be protecting customers’ big data sets as strategic assets, and how companies can approach divvying up the rights to data.

The authors emphasize how important it is for companies to understand the value of all of the items they own and create, including their data. “Without fully identifying the worth of your data and treating it as a financial asset — rather than merely a security issue and a regulatory compliance issue — during the course of vendor selection and contract negotiations, you risk destroying your big data as a strategic asset and enabling your competitors,” they state.