The rapid development of the Internet of things (“IoT”) has captured the imagination of inventors, entrepreneurs, investors and established companies alike, many of whom are capitalizing on the seamless connectivity of the Internet to create new products and services.
The IoT is a general term describing a network of physical devices such as lights, home appliances, heating and cooling systems, industrial equipment, and other “things” that have electronics and software that facilitate the exchange of data with other devices or a central control location. The IoT encompasses technologies that often are referred to as “smart”: smart homes, smart electrical grids, etc. All of the “things” are uniquely identifiable within the network, inter-operate using the Internet, and can be controlled remotely over an Internet interface.
The emergence of the IoT has created exciting opportunities for the development of new products, but many legal challenges exist with respect to safety, privacy, data security, government regulations, and other issues. Those companies that participate in the space also must be mindful about how best to protect their intellectual property related to their IoT-related systems and products and how to navigate potential IP minefields created by competitors.
Maynard Cooper attorneys are helping clients meet these challenges and take advantage of the opportunities presented by the IoT. Our clients make, sell, and use “smart” products that are at the leading edge of IoT developments. We provide both strategic business counseling and legal advice to our clients in this new industry where markets, as well as legal requirements, are still developing.
At Maynard Cooper we combine an entrepreneurial spirit and strategic focus with deep experience in key legal areas including:
- Intellectual property
- Data rights and privacy
- Technology transactions
- Mergers & Acquisitions
- Regulatory compliance
- Product Liability
- International trade and export controls