The Value of Stolen Identification: How Does Information Valuation by the Legal System Impact Technology Costs?

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What is a stolen life worth to the victim? Hundreds? Thousands? Millions? How much would a person pay to protect the details of his life? People who have information stolen from technological systems value that information differently from the companies who suffer the breach, and the companies value it differently from the financial institutions who ultimately pay for it. This stolen information has value, but what is it worth exactly? What is measured: the actual cost to the person; the perceived value to the person; the amount a person is willing to spend to protect the information; the actual cost to business; the actual cost to protect information; or the amount the loss of the information costs third parties? How has the value of information changed as technology has changed? Is technology adapting to keep pace with the change in the actual and perceived value of information? The widespread use of computers to store and transport information has increased the challenges associated with securing information from theft during the usage, storage, and communication of the information and has further challenged the legal valuation of that information. The valuation of personal information is imperative to measuring the risks and rewards of using technology.

Keywords: Valuation, Technology, Legal Systems
Stream: Human Technologies and Usability
Presentation Type: Paper Presentation in English
Paper: A paper has not yet been submitted.

Associate Dean Linda F. Harrison

Associate Dean, Shepard Broad Law School, Nova Southeastern University
Ft. Lauderdale, Florida, USA

I teach in the areas of Antitrust, Contracts, and Business Entities. I am the Associate Dean of the Critical Skills Program which is charged with assimilating law students into the law school environment and preparing them for the bar exam upon graduation. My interests include the impact of technology on the legal system; the decline of antitrust law to curb trade globalization, and criminal perjury issues.

Christopher E. Everett

Associate, Intellectual Property, Proskauer Rose LLP
Boston, MA, USA

I am currently an Associate in the Intellectual Property group at Proskauer Rose LLP. I am a Patent Attorney in the Boston office of Proskauer Rose. I am very interested in the intersection between Computers, Security and the Law and hope to teach in the area someday. I presented at two conferences in 2005. The first was a workshop on the Economics of Information Security at the Kennedy School of Government at Harvard University in June 2005 on “Bridging the Gap between Computer Security and Legal Requirements”. The second was a conference of patent practitioners held in San Francisco in July 2005. At that conference, I presented a paper entitled “Software Terminology: How to Describe a Software Invention in a United States Patent Application.” In addition to presenting, I have published in the Nova Law Review and in the Encyclopedia of American Civil Liberties. I graduated from law school in 2006 where I was technical editor of law review. I have a BS and MS in computer science from Mississippi State University.

Ref: T08P0095