What's the big chip problem? The security of your computers and smart devices are most likely compromised.
How bad is it? It's not bad enough to throw them out, but you better fix it soon.
What can lawyers do about it? Before considering a class-action lawsuit, download a security patch.
Big Chip Problem
Intel Corp. announced that its chips -- which run most of the computers and smartphones in the world -- are vulnerable to attack. The big problem for Intel, of course, was an immediate dip in its stock price.
The consumer problem is that it may compromise user data. According to Bloomberg, the worst case scenario is that hackers could discover your passwords.
The good news is, every major computer provider is on it. Windows, Android, Apple, Mac, Google, and other companies are already updating systems to protect against the vulnerability.
Apple, for example, released an iOS update last month. Google, which discovered the flaw, also updated its smartphones and tablets.
Law firms, especially those using older computers, may have to take extra steps to secure their systems. It is not just a technology issue; it's a client-confidentiality one.
A patch will work for the new chip problem, but another remedy may be needed for future problems: cyber insurance.
"Does your firm need cyber insurance?" asked FindLaw's Casey Sullivan. "Probably. The legal industry is no stranger to cyber attacks."