Share Code, Licenses, and Customer Records Securely

Technology businesses must demonstrate regulatory compliance with various laws and standards depending upon their operations, the type of data they handle, and the industries they serve. Key regulatory requirements include: the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), Health Insurance Portability and Accountability Act (HIPAA), Federal Information Security Management Act (FISMA), Sarbanes-Oxley Act (SOX), Payment Card Industry Data Security Standard (PCI DSS), International Organization for Standardization Certifications, including their 27000 Standards (ISO 27001), National Institute of Standards and Technology (NIST), including NIST 800-53 and NIST 800-171, General Services Administration (GSA) IT Schedule 70, Children’s Online Privacy Protection Act ((COPPA), Family Educational Rights and Privacy Act (FERPA), Export Administration Regulations (EAR) and International Traffic in Arms Regulations (ITAR). Compliance with these and other regulatory requirements are essential for technology businesses to protect sensitive data, build trust with customers, and avoid non-compliance penalties, fines, and litigation.

Technology companies are often more vulnerable to cyberattacks for a variety of reasons. First, technology companies are considered high value targets because they often handle large volumes of sensitive data, intellectual property (IP), and proprietary software. Second, the sophisticated and interconnected nature of technology systems can introduce multiple potential entry points for attackers. Third, a focus on innovation and rapid development can sometimes lead to security being overlooked or deprioritized in favor of speed and functionality. Fourth, technology companies frequently integrate with numerous third-party services and platforms, increasing the attack surface and potential for supply chain attacks.

These vulnerabilities make technology companies susceptible to many different cyber threats, including: phishing and social engineering, ransomware attacks, intellectual property (IP) theft, advanced persistent threats (APTs) and zero-day exploits. While technology companies face unique and heightened cybersecurity risks, proactive and comprehensive security strategies can significantly mitigate these vulnerabilities.

Technology companies handle a wide range of sensitive content that needs to be protected to ensure security, compliance, and competitive advantage. This content includes: intellectual property (IP), customer data, personally identifiable and protected health information (PII/PHI), usage data, financial information, employee data, strategic plans, contracts, system configurations, logs, design documents, testing and QA data, compliance reports, sales data, and more.

Protecting this sensitive content is crucial for technology companies to maintain trust with customers, ensure regulatory compliance, safeguard their competitive edge, and prevent financial and reputational damage. This typically involves implementing robust cybersecurity measures, such as encryption, access controls, data masking, and regular security audits.

“Big Tech” is a term used to describe the largest and most influential technology companies in the world. These companies are typically characterized by their substantial market capitalization, widespread influence, and dominance in various industries within the tech sector. The term often refers to the following major companies: Apple Inc., Microsoft Corporation, Alphabet Inc. (Google), Amazon.com, Inc., Meta Platforms, Inc. (formerly Facebook, Inc.), Tesla, Inc. (sometimes included). Big Tech’s impact is, well, big. These companies have a major impact on the global economy, they drive technological advancements and set industry standards, they are often subject to regulatory compliance scrutiny and antitrust investigations, and their products and services shape social interactions, commerce, entertainment, and access to information.

Corporate espionage, is highly prevalent and problematic in the technology sector. The technology industry is particularly vulnerable due to the high value of intellectual property (IP), rapid innovation cycles, and intense competition. For example, the tech sector thrives on innovation, making proprietary technologies, software, R&D data, patents, and trade secrets prime targets. Gaining access to competitors’ IP can provide significant competitive advantages, leading to increased market share and profits. It can also shorten the time required to develop new products, providing a crucial edge over competitors.

The impact of corporate espionage includes: business disruption, compliance violations, financial losses, litigation, and reputational damage. Effective mitigation against espionage requires a combination of robust cybersecurity practices, employee education, advanced threat detection, and legal protections.