
In a Data-Obsessed World, Attorneys Welcome Privacy Law Specialization
News that the State Bar of California will offer a privacy law specialization has been welcomed by practitioners in the space. They say that as the scale and complexity of data use grows, so does the need for lawyers who understand the patchwork of regulations governing privacy and the latest technological advancements.
The State Bar voted to approve the specialization during its May 22-23 meeting. It's the first new specialization to be established since 2008 and will join 11 others, including Family Law and Taxation Law, once launched.
According to the State Bar, the specialization 'recognizes the growth and importance of privacy law in light of increasing legal challenges in data privacy, cybersecurity and emerging technologies.'
Attorneys who seek specialization will need to demonstrate knowledge of areas including data security, data sharing and technologies. Eventually, attorneys will need to pass an examination to fulfill the specialization requirements.
California is not the first state to offer a specialization, explained Sharon R. Klein, co-chair of Blank Rome LLP's Privacy, Security & Data Protection practice. In the U.S., that honor belongs to North Carolina, which offers a certification based on the International Association of Privacy Professionals Certified Information Privacy Profession/United States certification (and which Klein has held for decades).
Klein said that privacy law was 'definitely' an area requiring specialist knowledge, given 'privacy is an area filled with complex and often conflicting regulations and one which is constantly evolving.' Regarding demand for the specialization, she noted that there were '1,200 active members of the California Lawyers Association's privacy section.'
Attorney Don R. Dennis Jr., whose practice includes copyright and trademark infringement, internet law, defamation, trade secret misappropriation, data security breaches and privacy law, welcomed the news. He said that he would consider taking the specialization and that it would allow attorneys practicing privacy law to stand out from the pack.
'The fact that there are so many tenets to privacy law, whether we're talking about education or finance or health, being that it touches so many different points, that specialization just allows you to really hone in, and it will really set you apart from other legal practitioners who may have read an article here or there, or maybe even experienced a data breach, but have not dealt in this area of law on a daily or weekly basis,' he said.
Daniel Goldberg, who chairs Frankfurt Kurnit Klein & Selz PC's privacy practice, also welcomed the move. He said that while the precise details of the specialization were not yet clear, he would 'definitely' consider taking it.
'Absolutely, it's an area that has been exploding with growth. And California is one of the leading states with privacy regulation and has been for a number of years now. And so it is, I think, particularly important to have some type of specialization designating leaders in this field,' Goldberg said.
Like Dennis, Goldberg said that attorneys who wanted to effectively solve clients' data privacy issues needed to stay on top of the latest legal and technological developments.
'The law is very complex. But on top of the law being complex, the specialization really requires a level of technical expertise. The law talks all about measures that companies need to take with respect to collection, use, disclosure of data and opting out. But if you don't understand how the technology works or how the ecosystem works, then it's an area that would be very, very difficult for you,' he said.
He added, 'One thing about privacy law is that you also have to be an expert on what's going on in the news, the latest changes and whether it has to do with ad-tech platforms or AI. If you're not up with the latest changes, you're going to fall behind very quickly.'
Both attorneys said that the specialization recognized that data privacy has become an increasingly pressing issue in recent years.
Dennis said that growing consumer reliance on data-rich consumer services, as well as the transition to online platforms in industries like education and health, and the resulting risk of data being misused or leaked had boosted the number of companies and consumers seeking legal advice on their legal remedies and responsibilities.
This would likely be magnified by the growth of artificial intelligence services, he said.
He said that privacy law was a complicated area of the law, involving a patchwork of state and international law. Much of his time was spent helping clients navigate through these laws.
'There's no national data breach law. Each state has its own law and notification process,' he said.
Klein explained that data privacy, particularly the privacy policies and infrastructure a company had in place, had also become a key consideration during dealmaking.
'No commercial deal gets done today without an analysis of the data the target is/has collected and whether they have protected the data and avoided data breaches. This is true for ordinary deals as well as technology deals,' she said.
She agreed that AI would likely exacerbate this trend, stating, 'The amount of regulation and legislation globally over the past 35 years of my practice is stunning and will increase exponentially with AI. Lawyers are needed to align expectations of the parties globally on privacy, security, and AI rights and data transfers.'
Goldberg said that it was fitting that California attorneys would soon have the option to earn a privacy specialization, given that the state has played a pioneering role in privacy regulation.
This included the passing of the first comprehensive privacy law (the California Consumer Privacy Act or CCPA) in 2018, which he said catalyzed the creation of similar laws across other states and established California as the national leader in privacy legislation.
He said the state had also been among the most active in enforcement, with both the Attorney General's office and the California Privacy Protection Agency pursuing multiple enforcement actions of late, with more expected to follow.
Because data privacy stretches across such a broad cross section of industries, Goldberg said that it was becoming an increasingly lucrative area for law firms.
'It's incredibly lucrative just because it's such a broad area. It really is a subject matter expertise that goes in so many different subcategories of practices, and so almost every firm now has to have a privacy expert,' he said.
Klein predicted that the 'privacy, security and AI areas for lawyers will continue to be robust for decades to come as companies need legal advice relating to the vast amounts of data to operate their businesses,' including trade secret and personal data.
'Needless to say – law firms see this as a lucrative area and are and will continue to invest in privacy, security and AI specialists,' she added.
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Business Wire
7 days ago
- Business Wire
ANDMORE Establishes New Executive Team to Support Growth Plan
ATLANTA--(BUSINESS WIRE)--ANDMORE ®, the largest owner and operator of tradeshows in the U.S., today announced the appointment of Robert Klein as Chief Financial Officer. Klein joins ANDMORE from Postal Realty Trust, Inc. (NYSE: PSTL), where he served as Chief Financial Officer since 2021. 'Nothing transforms a company more than excellent senior leadership, with diverse skillsets and broad-based experience,' said Jonathan Pertchik, CEO of ANDMORE. 'Our leadership is a team of proven leaders representing a blend of incredible wisdom and experience from within the industries we serve as well as imported from external industries, which creates a competitive advantage as we prepare to deliver a higher level of service to those we serve. Rob has a track record of sharpening operations, enhancing performance, and guiding companies through transformative phases of growth, and we are delighted to have him on the team.' Klein brings proven financial leadership and operational discipline to ANDMORE from his executive experience at several high-performing companies. Prior to Postal Realty Trust, Klein served as a Managing Partner and Head of Capital Markets at Monday Properties Services, LLC, a real estate investment firm, where he led the strategic growth of the firm. He also worked as a Managing Director in the Real Estate Advisory Group at Evercore, advising on mergers and acquisitions, joint ventures, strategic partnerships, portfolio acquisitions and sales, restructuring transactions, IPOs and strategic alternatives. Prior to that, Klein held various positions at MJC Associates LLC, Reckson Associates, Goldman Sachs and Bankers Trust. He is a member of the CFO Council of NAREIT, and the Executive Committee of the University of Florida's Bergstrom Center Advisory Board. 'ANDMORE plays a fundamentally critical role to countless apparel, furniture and design companies,' said Klein. 'It has a long history and plays an important role within the American economy, and I look forward to working with Jon and the team to achieve a new chapter of growth.' ANDMORE continues to undertake significant changes in streamlining divisions to drive efficiencies and improve execution across the business. To oversee the new operational structure, ANDMORE has reconstituted its executive team, appointing: Scott Eckman as President, Leasing and Marketing. Eckman rejoined ANDMORE after working as President at Loloi, a leading producer of rugs, pillows, and wall art and a longtime ANDMORE customer. Prior to Loloi, Eckman spent more than a decade at ANDMORE, most recently serving as Executive Vice President and Chief Revenue Officer. In his new role, he oversees key business functions, including sales, leasing and marketing. Greg Avitabile as President, Operations. Avitabile was appointed to this role following several other leadership positions at the company, including Executive Vice President and Chief Operating Officer. Before joining ANDMORE, Avitabile served as Senior Vice President of Operations at AmericasMart Atlanta, where he oversaw facility operations, tradeshows, and events. At ANDMORE, he is responsible for operations across 20 million square foot real estate portfolios, including markets, events, and trade shows. Landon Williams as Executive Vice President, Chief Technology Officer. Williams has more than 20 years of technology leadership experience, most recently serving as Chief Technology Officer, Mergers & Acquisitions, at Equifax. Prior to that, Williams served as SVP and Chief Architect at The Weather Company, where he orchestrated the cloud-native transformation that ultimately led to the Company's acquisition by IBM. Following the IBM acquisition, he led IBM's Edge Computing business. At ANDMORE, he is responsible for the company's technology strategy across operations, including incorporating technology across ANDMORE's event and showroom spaces. Katie Potter as Executive Vice President, Chief Strategy Officer and General Counsel. Potter joined ANDMORE after more than a decade in the real estate, hospitality and wellness sectors. Previously, she served as Chief Legal and Administrative Officer for Sonder Inc, President & Chief Executive Officer of AlerisLife (f.k.a Five Star Senior Living) (NASDAQ: ALR) and Senior Vice President of The RMR Group (NASDAQ: RMR). At ANDMORE, she oversees all legal affairs and leads development and execution of the company's strategic plan, including spearheading growth and acquisition initiatives. Amory Wooden as Executive Vice President, Chief Marketing Officer. Wooden brings to ANDMORE more than two decades of experience building and growing global brands across both agency and in-house teams. Prior to joining ANDMORE, she served as Acting Chief Marketing Officer at Home Partners of America, an owner and operator of more than 50,000 high-quality single-family homes across the United States. Wooden previously served as Head of Marketing – StreetEasy – for Zillow and Director of Brand Marketing at Squarespace. At ANDMORE, Wooden oversees all marketing and communications for the ANDMORE brands and corporate entity. Ximena Juncosa as Executive Vice President, Chief Human Resources Officer. Juncosa possesses more than two decades of human resources experience across healthcare, business services, financial services, and hospitality. Prior to joining ANDMORE, Juncosa served as Senior Vice President of Talent and Organizational Strategy at McKesson Corporation. At ANDMORE, she is responsible for cultivating a performance culture, accelerating talent growth, as well as all other aspects of the Human Resources team. Pertchik continued, 'Each team member brings a diverse wealth of experience, from both inside and outside the company, and I'm proud to work alongside them as we deliver on our growth and improvement initiatives. We continue to realize significant operational and service improvements, and I am excited to see how our tenants, customers, guests and communities respond.' About ANDMORE®: ANDMORE, a Blackstone portfolio company, empowers wholesale buyers and sellers to connect, grow and prosper through premier physical markets and design centers. The company operates over 20 million square feet of premium tradeshow and showroom space, hosting live events in Atlanta, High Point, N.C., Las Vegas and New York City. Serving industries such as home décor, gift, furniture and apparel, ANDMORE supports the global B2B community through its unmatched marketplace experiences.


Time Magazine
04-08-2025
- Time Magazine
SAP CEO Christian Klein on Building Bridges in the Age of AI
SAP, the 53-year-old German tech giant, builds software for virtually every business function, from supply chain and resource management to finance, sales, and human resources. Its products are used by over 440,000 customers worldwide, including 98 of the world's 100 largest companies. Taken together, its client base generates over 80% of global commerce, according to the company. At the helm sits Christian Klein, 45, who has been at SAP since 1999. 'You can say it's a big minus or a big plus when you're spending your whole career in one company,' he says. 'I started here as a student. And I still know people from back then. We have four generations here working for SAP—it's a company of 110,000 people.' Under Klein's leadership, the company has accelerated its transformation into a cloud-first enterprise, with cloud revenue accounting for over half of its total revenue in the first quarter of 2025. Meanwhile, SAP is embedding AI into its core products with the goal of becoming the "#1 enterprise application and business AI company." SAP is one of the most valuable public companies in Europe and made headlines when it took the top spot in March. Klein spoke with TIME on June 4 about his success as a leader, how AI is changing enterprises, and the difference between power and influence. This interview has been condensed and edited for clarity. What have you changed your mind about since becoming sole CEO in 2020? Our software helps to build bridges and facilitate global trade. We have multinationals in the U.S. and China, in Asia—everywhere—doing global business. Five years ago, when I came into this job, in my perspective of the world everyone was a winner. I saw democratic values in most parts of the world, and said "ah, that will never change." Because I'm still reasonably young and have not lived in times like this, I never thought things could change so fast—at least when it came to global trade. But here we are. I have to deal much more with all of the geopolitics than I had to, say, five years back. That definitely has changed. Why do you think you're good at your job? When you're a CEO, over the years you learn that when you believe "I have the right strategy on a nice PowerPoint—I have written it all down—the rest is just about execution," you're completely wrong. Especially when you're a European company with many stakeholders, you need to think about strategy first from the customer-perspective. Everyone says that [laughs], but you really have to make sure that you're hitting that nail. Otherwise, you could steer the company in a completely wrong direction. You need to make sure everyone—your employees, shareholders, the workers council, and so on—is excited, committed, and passionate about strategy and where you're leading the company. You have to be a bridge builder: to make sure everyone is involved and understands the strategy, and everyone is moving in the same direction. Otherwise, things can fall apart very easily. In your May CEO address, you said we can think of AI agents as 'digital coworkers.' If AI agents can robustly function as digital coworkers in the near-future, why hire humans at all? Here's an example: we just had financial earnings at SAP. Now, AI gives me certain simulations and predictions on how the year could end, given all of the trade conflicts and the uncertainty out there in the market. Would I fully trust AI to say "this is how you should put out your financial guidance for the rest of the year?" No: I still feel we need a human being at the end of the chain who can make slight adjustments, incorporating their past experience. Or think about selling software. When you are traveling the world, the cultures are so different. When I walk into a customer meeting in Japan, it's different from walking into a customer meeting in Germany or the U.S. AI can give me a beautiful sales pitch or a great demo, but at the end it's human beings who need to understand how to position it, how to emotionally talk about it, particularly across different cultures. And I don't see an AI yet that is able to do that—at least not better than a human being. You point to emotional connection and cultural understanding. AI is already highly-persuasive and can understand emotional nuance. A key limit is that current AI systems lose coherence over long time periods. If that changes—and the same system can run for months or years at a time—do you still think AI won't be able to do these parts of the job? You're right, emotional intelligence will get better and better. No doubt about that. But at the end of the day, there needs to be someone in the company you can hold accountable. I don't want to see SAP in the headlines, with a customer saying "I relied only on SAP AI agents to close my books or to run my supply chain, and they completely screwed it up. Despite AI doing 99% good work, it didn't play out as expected.' Ultimately, I'm convinced there must be some human beings still in the mix. Do I expect to need the same amount of developers, salespeople, and consultants in the future? Definitely not with the job profiles that they have today. But do I still need other jobs that are coming up—more data scientists? More people thinking about the future of the industry? Yes, absolutely. It would be an illusion to believe AI will help and drive more productivity, but the workforce will still look the same. That will be absolutely not the case. But I also can't imagine a workforce only with digital workers. Can you imagine a scenario where in five years time, 90% of your workforce is gone, so you have closer to 10,000 employees than 100,000? Oh, that is tough. In certain job profiles, I can absolutely see they can be 60% to 70% digital. In others, for example, take audit: Of course, you have policies as a company, but with every policy—for example, the E.U. Data Act, which I don't like so much—there is always a gray zone. You ask five lawyers and five large language modules about interpretation—does this contract adhere to the E.U. Data Act?—and you get different answers. It's like when you have issues with your back and you ask five doctors, and they come with five different root causes. These things will still exist. So in these jobs, I don't believe that there will be only digital workers. In other jobs, I definitely see a much higher share. It really depends on the job profile. Do you think you'll live to see an AI system do every part of your job? Part of it. I need to make a lot of decisions every day. They are sometimes pretty logical decisions, where you just look at the facts. But sometimes there are tough decisions you have to make using your emotional intelligence. There are certain market trends which may not be captured by the facts, but you talk to people, to other stakeholders, and you make a different decision. So I don't believe that a CEO can be purely digital in the future. Sometimes you're still making decisions based on your gut feeling. What are the biggest bottlenecks to enterprise adoption of AI? In the enterprise world, where we are setting up our agents, you need 100% accuracy. So for example Joule, our digital assistant, cannot mess around with compliance checks on travel and on sourcing, or on directing the flow of materials. People are betting their jobs and their companies on our software and on AI. This needs 100% accuracy: if you as a tech company don't understand the business process—if you don't have the data or you can't access all of it—that is a big issue. This is a big obstacle for many companies: understanding how to apply the technology. The good position of SAP is: we are running these business processes, we know the rules and workflows, we have the data. Others who are more on the infrastructure and hardware layer… they don't have the business context. They're missing the data. Is accuracy the biggest challenge? Or are there others? The second piece is on data. Every company you walk into has their data siloes: there have been trends with collecting data and creating data lakes, but no one has solved the problem of making all the data match. And when it doesn't fit, AI can't do magic immediately to say, "I 100% understand how this data fits together and I can correlate it to produce good results for the company." The third piece involves regulation, which often kills innovation before it gets started. Certain parts of the world need to be careful to not only see risk, risk, risk with regard to AI, but also the upside for the economy. What do you think is the appropriate regulatory framework for AI? Here's my pragmatic view. In the European Union—it's good that we have a union, I'm all in for it—we have AI regulation in many member states, and then the E.U. puts another regulation on top. The result is confusion, different interpretations, and before companies or startups can use the technology to race against others in the world, it's already game over. That is the problem. I'd say: have one framework for all of Europe, and then give some freedom within this framework, especially when you are early in the development and testing cycle—you cannot do harm in this early phase. Of course, the moment when you bring it to market and to scale, there must be regulation. But don't regulate the technology! Regulate the outcome, so AI is unfolding in the right way in the chemical industry, the automotive industry, the defense industry. But don't regulate the technology, because then you regulate technological innovation, which is never good. You need to see you are not living on an island here in Europe. All of these tech players—we are the only large tech player in Europe, but there are many startups—there is competition everywhere, and we cannot give these companies and startups a disadvantage when it comes to speed of innovation just by over-regulating. If you were 22 today, fresh out of university, what would you do? At 22, I still wanted to become a professional skier. I would try it again. It's my passion. I love to be in the mountains, I love to ski, and I'd try to turn that passion into a profession. So you wouldn't set out to become a CEO? I wasn't planning to become the CEO when I was 22 years old. That goal developed over time. I don't like it when you're too early on, saying "I need to be the CEO." I'm more on the 'first deliver' side: prove yourself, prove that you can work in and deliver great results as a team, and the rest will follow. It was only when I became the chief operating officer of SAP, and I considered our transformation into a cloud company, that I developed the goal of becoming CEO. We had a strategy, and the software was instrumental for that. But I saw it was not only a piece of technology which would make transformation work. It's also an understanding of the culture, and the tone from the top. You need to understand: where do you want to go with your company? Do you want to be a cloud-pure SaaS company, or do you want to still be a legacy? What does it take? Then you can connect software and technology and AI to it. So it was only around 2017 that I thought, 'oh, I could be the CEO of SAP. I have a vision for this company on how to move it into the next century. It probably sounds a little bit odd, but it's not the power and the responsibility that drew me to the role. It was about: 'you can influence a lot of things to create a great future for SAP.' I saw how we worked and what was needed. What do you think distinguishes power and influence? Becoming a CEO and believing that now you're making a decision, and you have the power, so everyone will just follow, is probably the biggest mistake you can make. You can put a lot of policies in place, you can put more pressure, but people will not just automatically follow. You need to over-communicate in times of change to convince people. When we did this drastic change and our share price collapsed five years back, I couldn't just say, "Oh, now we did it. The strategy is clear. I have the power now to tell you exactly what to do." You need to influence people. You need to convince them. (To receive weekly emails of conversations with the world's top CEOs and decisionmakers, click here.)

Miami Herald
28-07-2025
- Miami Herald
SuRo Capital outlines OpenAI investment strategy, $1 trillion projection
This article is based on TheStreet's Stock & Markets Podcast. Hosted by the veteran Wall Street investor Chris Versace, the weekly podcasts are available early to members of TheStreetPro investing club. No big whoop? That's what you think. Whoop just happens to be a wearable technology company and it is one of many firms in which SuRo Capital (SSSS) , which has an estimated $200 million market cap, has invested. Don't miss the move: Subscribe to TheStreet's free daily newsletter Mark Klein is the investment firm's chairman and CEO and he sat down with Chris Versace, lead manager of TheStreet Pro Portfolio, to discuss how to get in early on growth-oriented companies. "We've been around since 2011," Klein said during the July 23 edition of TheStreet Stocks & Markets Podcast. "We've owned names over the years like Facebook and Twitter and Palantir, and Lyft and Spotify and Dropbox." "Slow down," Versace said. "These are the big names driving the market today." "Absolutely," Klein said, "and so our investors have been very fortunate that we're able to provide access very early to those names. And we've continued to do that straight through to 2025." And there's no mystery as to how SuRo finds companies to back. "It's investing and it's not easy," Klein said. "We use both bottom-up and a top-down approach to investing our money. And we are typically in mid- to later-stage companies that are either institutionally backed or venture-capital-backed companies." More Tech Stocks: Analyst who correctly predicted Rocket Lab stock surge resets forecastVerizon Q2 earnings report surprises with remarks on tax reformFund manager who forecast Nvidia stock rally reboots outlook He looked back to 2022, when ChatGPT, the conversational AI chatbot developed by OpenAI, was introduced. "Our first thought was what companies are going to benefit from it and what are going to be disrupted by it," Klein said. "And that was the lens that we looked at companies through very much as we're moving almost into through 2023 and into 2024." By 2024 ChatGPT made clear that it was going to be something massive, he said. "We wanted to understand how directly to invest in AI," Klein explained. "And not necessarily end-product-specific but picks and shovels - sort of the baseline of an infrastructure. And that's how we ended up investing in CoreWeave, Open AI [and] Vast Data." SuRo also invested in Oklo, which is focused on developing advanced fission power plants, particularly to support the energy-intensive needs of artificial intelligence and data centers. "This is how thematically how we got there and then tried to find the best of the best of breed and the leaders in their space and then be able to access it for our investors," Klein said. He described OpenAI as a difficult company to access due to its capital structure. "We wanted to own it because it [has been] the clear leader in what's going on in AI. And they literally have an announcement every day of something like, 'oh, my goodness, how did that happen?' And we were able to buy it. ... And I suspect OpenAI is going to be a trillion dollar company," Klein said. SuRo also invested in Plaid, which he called "one of the best fintech companies out there." "We're extremely excited with Plaid and it's when you look at the fintech landscape, [in] which there's a multitude of companies, this is clearly one of the best in the space," Klein said. Related: Stocks and Markets Podcast: Why Now Is the Time to Buy High-Yielding Small-Cap Stocks The conversation turned to the subject of companies that don't work. "Our view is unless the company's out of business, we don't write it off," Klein said. "We write it down to zero, but we don't write it off. And we learned that lesson several years ago. "We had a company that we had written down to zero and you could have easily just crystallized the loss," he added, "but through negotiations with the company and other shareholders, we got a recovery that was actually a gain from our initial investment." Klein said the IPO market is clearly opening up. "If the markets continue to stay firm, I believe the IPO market will remain open and we have several names in our portfolio that will probably go public in the next 12 to 18 months," he said. SuRo Capital's stock is up 48% this year and have more than doubled (up nearly 118%) from this time in 2024. The company is scheduled to report second-quarter earnings on Aug. 6. "This is clearly one of the most exciting periods to be on the investment side," he said. "It's exciting just to be watching all of this and the rate of change is amazing." "We're very fortunate that we are right in the middle of it, and our ability to have to identify, have access and deploy capital against it is probably the most fun experience I've had in investing in almost 40 years." Related: Veteran fund manager who forecast S&P 500 crash unveils surprising update The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.