External data networks and commercial concerns

Table of contents

• Original news
• What are the commercial concerns when agreeing to use external data networks and services?
• How can contracts of service protect a business from a failure by their systems provider?
• Are cloud-based technologies less safe in this regard?
• Loss of network or limited usage can result in huge financial loss, can damages be sought?
• What safeguards can trading platforms and other businesses put in place to limit risk from data outages?
• With increased reliance on computers, are systems providers and network solutions able to keep pace?

Article summary

IP & IT analysis: Iain Monaghan, partner at Pinsent Masons, asserts that although there are technical and commercial concerns connected with the use of external data networks and services, and the ever-increasing reliance on computers, there are contractual methods of protecting oneself and the possibility of seeking damages.