Common Legal Issues Facing Technology Companies

Every Texas business can benefit from the skill and counsel of an experienced business and corporate law firm. However, a client’s precise needs vary from one industry to another. Such is the case with technology companies. If you own, operate, or otherwise work with one of these businesses, the Oracle Legal Group has your organization covered. Here we take a look at a few of the legal issues you may encounter.

Intellectual Property

Compared to other types of businesses, technology companies work a great deal with intellectual property. These assets include patents, trademarks, and copyrights. Some companies use intellectual property through licensing agreements while others create such property. For instance, a business may write software code or develop its unique brand.

It’s important for technology companies to, first, understand the intellectual assets they use and create. Next, they have to protect their rights. When it comes to licensing agreements, the business needs to ensure it understands its rights and obligations thereunder. If the business creates its own intellectual property, it must be safeguarded. Our firm assists with patent, copyright, and trademark registration and enforcement.

Data Privacy and E-Commerce Security

Technology companies handle large amounts of customer and client data. A security breach or hack could expose the sensitive private information of countless individuals. This could lead to litigation and substantial damages awarded to victims. Security becomes an even more substantial concern for companies that use e-commerce and conduct online transactions.

Both data and e-commerce impose various legal requirements on technology companies. These concern the use, storage, and management of customer and client data. They also involve consumer protection, electronic contracts, and payment processing rules. Understanding how these laws and regulations work is critical to protecting your company’s best interests.

legal issues for tech company concept, judge gavel on laptop keyboard

Regulatory Compliance

Certain technology companies are subject to specific sets of laws and regulations that govern their activities. Some examples are cybersecurity, telecommunications, and medical technology. These are rapidly developing sectors in which new advances seem to take place almost daily. So, too, are the laws and regulations that emerge in these areas.

If unique laws and rules regulate your technology company, compliance is a top legal issue. Failure to comply may lead to investigations, fines, lawsuits, and lost productivity. Make sure you know the regulations concerning your business and understand how to keep up with them. Our firm can help.

Unfair Competition

Top technology companies are routinely accused of anti-competitive business practices. Microsoft and Apple are some examples, but this issue is hardly limited to multinational, multibillion-dollar businesses. If you own a technology company, it is natural to want to turn profits. However, these endeavors have to be tempered with laws designed to protect consumers and the marketplace.

Anti-competitive, trust, and unfair competition laws should be a concern to any business. They should especially be on the radar of technology companies, which are constantly vying for market dominance. We can advise you on the laws and rules to be aware of.

Navigating Legal Challenges on Behalf of Texas Technology Companies

Texas technology companies also face other matters common to all businesses. These include contracts, employment laws, and litigation. If your business is in the technology sector, however, you need a law firm experienced in handling the above issues. That firm is the Oracle Legal Group. We practice across a diverse array of areas that impact the bottom line of technology businesses. Reach out to us today to learn more.