Data breaches and cyber security hacks have been on the rise in the US, with reported cybercrimes up 300% since the start of the COVID-19 pandemic in 2020. Experts estimate ransomware damage costs will rise to $20 billion in 2021. The influx of businesses falling victim to data security breaches and IT attacks is resulting in increased litigation.
Disruption to the global supply chain opens the door to litigation for everyone from manufacturers to distributors to retailers. This situation raises questions about responsibility: Who is responsible if there are faulty products as a result of supply chain disruptions? What happens if the rapid restarting of manufacturing causes problems with product quality and liability? How will disruptions impact contracts, and how can they be renegotiated?