Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Friday, February 21, 2014

Protecting a Business Owner’s Digital Assets

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What can a business owner do to protect its digital banking records, documents, personnel records, and domain names?  Here are a few steps to take:

  • Get help.  Consider employing outside expertise to design a digital asset protection plan. 
  • Make an inventory.  Know how information can be accessed, what devices employees are using, what information they can store, and where and how information is backed up. 
  • Fix weaknesses.  If you find during the inventory that key data is not being backed up or data is being unnecessarily exposed to theft or misuse, this is the time to clean it up. 
  • Give permission.  Because it’s against federal law to use someone else’s username and password, give some form of written permission to access an account.  Also, authorize an agent to access digital assets if you were to pass away, if possible. 
  • Buy software.  Try using one of the many online tools designed to protect digital assets.

See Steve Parrish, Planning Steps to Protect Your Digital Assets, Forbes, Feb. 18, 2014.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/02/protecting-a-business-owners-digital-assets.html

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