The tech industry is a super fast-paced environment, and innovation is what separates the brilliant firms from the merely excellent ones. Your business success depends on protecting your constantly evolving intellectual property so you can stay two (or three) steps ahead of the competition.
Tech firms literally live on computer drives, websites, and cloud servers. Protecting all that data and keeping it from falling into the wrong hands is critical to avoiding FTC scrutiny,loss of customer trust and keeping your company in business.
Small technology companies often have sizeable hardware assets that are subject to physical damage from severe weather events, electrical outages or brownouts, and even criminal break-ins. And when cutting-edge software and hardware technology fails to perform as promised, customers may sue.
Every business faces risk, but there are ways you can reduce it with risk management. This involves identifying and analyzing potential hazards to your company early on, allowing you to prepare ahead of time.