June 10, 2020 Feature

Cyber Privateers: Protecting American Intellectual Property from Cyber Theft

Allen Loayza

©2020. Published in Landslide, Vol. 12, No. 5, May/June 2020, by the American Bar Association. Reproduced with permission. All rights reserved. This information or any portion thereof may not be copied or disseminated in any form or by any means or stored in an electronic database or retrieval system without the express written consent of the American Bar Association or the copyright holder.

Over the last decade, cyberattacks have increased exponentially, and cyber theft is now the “fastest-growing crime in the U.S.”1 As the number of attacks has increased, the damage caused by these attacks has also risen, with Cybersecurity Ventures predicting that the costs of cybercrime would double from $3 trillion in 2015 to $6 trillion annually by 2021.2 These costs include the loss of intellectual property such as computer software, confidential data, and other sensitive information, which by some estimates can comprise “more than 80 percent of a single company’s value today.”3

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