Showing posts with label forex trading. Show all posts
Showing posts with label forex trading. Show all posts
23:19
The Legal Issues Around Cloud Computing
Cloud Computing can help your business reduce costs as you don’t have to invest in hardware and other physical infrastructure, your data is stored on a secure location and you only pay for what you use – there are no licensing fees associated with cloud computing.
That said, there are some important legal issues that must be taken care of before you sign-up with any of the cloud vendors for your business.
These issues, discussed below, are more relevant for business owners who are planning to shift to the cloud and may not really matter if you are a consumer who merely uses the cloud for storing emails or office documents.
Your data could be stored in any country and you may not even know where the data centre is situated. The ‘physical location’ raises the question of legal governance over the data. The customer must be clear so as to the provisions of the prevailing law in that particular nation.
1b. If a dispute arises, what will be the place of jurisdiction?
In case a conflict arises between the cloud vendor and the customer (you), which country’s court system will settle the dispute?
Say you are a business owner in China and your cloud service provider is based in the US. The vendor will definitely prefer settling the case in in an American court but as a customer, do you have the financial means and resources to get the dispute settled in the jurisdiction of another nation?
It might happen that the vendor’s premises is severely affected due to a disaster. Even the 10-Q filings of Google Inc. with the U.S Securities and Exchange Commission mentions such a risk:
2b. Is there any liability coverage for breach of privacy?
If a privacy breach occurs due to a fault of cloud vendor, is there any liability coverage policy taken up by the vendor? The scope of breach of privacy has widened considerably over the years in the field of cyber insurance. Some insurance carriers offer coverage even for breach of minor information and the customer is compensated on on behalf of the cloud vendor.
2c. What can be done if the data center gets hacked?
Though all cloud vendors try their best to fend off hackers, no security setting is assumed to be foolproof. If the data center gets hacked, can you move against the vendor for claiming lost profits?
If it happens that the data is your own creation (like photographs, literature, etc), then is it protected under the intellectual property rights of that country? What means do you have if they get infringed?
3b. How secure are trade secrets?
Your data stored in the ‘cloud’ may have trade secrets or privileged information which must be protected under attorney-client relationship. How secure will such information be in hands of the cloud vendor?
Or consider a reverse situation. If you leak out a trade secret of another business entity, how far will your cloud storage provider go to protect your data when they have been summoned to the court with all your stored data, access logs, etc.
3c. Third party access?
The vendor may grant some privileged third parties access to your stored data. The identity of such parties, if any, must be disclosed to the customer. Here, the third party could be a legal authority or even an internal employee. The customer should always be informed before the vendor allows third parties to access the stored data.
To protect the interest of your business, it may therefore be extremely essential that your read the terms and conditions meticulously before signing up for a cloud based services.
If the vendor provides a standard form of contract (which is a general practice), then you must be must be fully aware of all the terms and conditions. It will save you from nasty surprises and you will be financially, mentally and legally prepared to save your business from unfavorable consequences of cloud computing.
The author Nikita Anand is the editor-in-chief of Mighty Laws where she seeks to explain complex legal jargon in simple English. Nikita is currently pursuing a degree in Law from NLIU.
Legal Issues associated with Cloud Computing
That said, there are some important legal issues that must be taken care of before you sign-up with any of the cloud vendors for your business.These issues, discussed below, are more relevant for business owners who are planning to shift to the cloud and may not really matter if you are a consumer who merely uses the cloud for storing emails or office documents.
1. The Physical Location of your Data
1a. Where is your data stored physically?Your data could be stored in any country and you may not even know where the data centre is situated. The ‘physical location’ raises the question of legal governance over the data. The customer must be clear so as to the provisions of the prevailing law in that particular nation.
1b. If a dispute arises, what will be the place of jurisdiction?
In case a conflict arises between the cloud vendor and the customer (you), which country’s court system will settle the dispute?
Say you are a business owner in China and your cloud service provider is based in the US. The vendor will definitely prefer settling the case in in an American court but as a customer, do you have the financial means and resources to get the dispute settled in the jurisdiction of another nation?
2. Responsibility of your Data
2a. What if the data centre is hit by a disaster?It might happen that the vendor’s premises is severely affected due to a disaster. Even the 10-Q filings of Google Inc. with the U.S Securities and Exchange Commission mentions such a risk:
Our systems are vulnerable to damage or interruption from earthquakes, terrorist attacks, floods, fires, power loss, telecommunications failures, computer viruses, computer denial of service attacks, or other attempts to harm our systems.The question is whether you are indemnified by the insurance company for loss of your business or not?
2b. Is there any liability coverage for breach of privacy?
If a privacy breach occurs due to a fault of cloud vendor, is there any liability coverage policy taken up by the vendor? The scope of breach of privacy has widened considerably over the years in the field of cyber insurance. Some insurance carriers offer coverage even for breach of minor information and the customer is compensated on on behalf of the cloud vendor.
2c. What can be done if the data center gets hacked?
Though all cloud vendors try their best to fend off hackers, no security setting is assumed to be foolproof. If the data center gets hacked, can you move against the vendor for claiming lost profits?
3. Intellectual Property Rights
3a. Is your data protected under intellectual property rights?If it happens that the data is your own creation (like photographs, literature, etc), then is it protected under the intellectual property rights of that country? What means do you have if they get infringed?
3b. How secure are trade secrets?
Your data stored in the ‘cloud’ may have trade secrets or privileged information which must be protected under attorney-client relationship. How secure will such information be in hands of the cloud vendor?
Or consider a reverse situation. If you leak out a trade secret of another business entity, how far will your cloud storage provider go to protect your data when they have been summoned to the court with all your stored data, access logs, etc.
3c. Third party access?
The vendor may grant some privileged third parties access to your stored data. The identity of such parties, if any, must be disclosed to the customer. Here, the third party could be a legal authority or even an internal employee. The customer should always be informed before the vendor allows third parties to access the stored data.
To protect the interest of your business, it may therefore be extremely essential that your read the terms and conditions meticulously before signing up for a cloud based services.
If the vendor provides a standard form of contract (which is a general practice), then you must be must be fully aware of all the terms and conditions. It will save you from nasty surprises and you will be financially, mentally and legally prepared to save your business from unfavorable consequences of cloud computing.
The author Nikita Anand is the editor-in-chief of Mighty Laws where she seeks to explain complex legal jargon in simple English. Nikita is currently pursuing a degree in Law from NLIU.
04:42
Forex Charts
Forex charts assist the investor by providing a visual representation of exchange rate fluctuations. Many variables affect currency exchange rates, such as interest rates, bank policies, geopolitics, and even the time of day may affect exchange rates.
In order to help the investor attempt to predict when or in what direction a rate may change, advisors provide forex charts. Quality forex websites provide subscribers with a daily newsletter that includes a forex chart, forex signals and a forex forecast.
There are a variety of forex charts available for the investor to use and study. Some are very simple using only a couple of forex signals or indicators and are ideal for beginners. Others include 30 or 40 forex signals or indicators and live on-line streaming data so that the investor may analyze trades quickly and accurately.
In order to make an accurate forex forecast, it would seem that the more indicators, the better, but some analysts prefer a simpler system.
The idea behind studying forex charts is that history repeats itself. Instead of trying to “see the future”, a forex forecast evaluates the past. That is to say that the analyst who is responsible for attempting to predict future currency moves analyzes what happened to an exchange rate yesterday, last week, last month or last year and uses this knowledge to the best degree he knows how.
Some people trade short term, some intermediate term, and some long term. All three types of traders may benefit from the use of forex charts, just adapted to their own trading time frame.
Investors also create their own forex charts to evaluate their own performance. Creating a forex strategy for oneself is the goal of many investors. Instead of looking to a professional to analyze forex signals, these investors choose to create their own forex forecast.
Others, however, create their own strategy but also follow the opinions of professional currency traders at the same time. It all depends on your personal preferences.
There are other forex charts that deal with known correlations between two currency pairs, that is, how they move in relation to each other. Some exchange rates are known to affect other exchange rates, either by moving in the same or the opposite direction depending on the correlation.
Charts are available that explain these correlations in detail and show which pairs have strong correlations or strong negative correlations, so that an investor can use the movement of the exchange rate of one currency as a signal to trade another currency. These correlations are also the basis for some forex forecasts.
It can be difficult and overwhelming to enter the world of forex trading alone. Experts recommend education, practice with a demo account and advice from a reputable broker who is backed by a quality institution. Learning to read forex charts and evaluate forex signals is a skill that comes with time, skills that are essential when an accurate forex forecast is the the goal.