David Katz who recently joined Nelson Mullins Riley & Scarborough as partner, just wrote a piece for the LexisNexis In-House Advisory on the perils and best practices of managing third-party contracts.  “One only has to log on to their favorite news aggregation website to read the most recent and shocking headlines describing the disastrous, costly, and often painfully public consequences of some unfortunate company’s data breach. Even more distressing, is that in some cases the company’s data breach may have been entirely out of their control and a direct consequence of a third-party vendor’s negligence, failure of adequate security controls or the third party may have be simply the most recent victims of a cyber security attack.  No matter what the cause, once the proverbial cat is out of the bag and the brand is damaged, it becomes impossible in an unforgiving world of aggrieved consumer data breach victims to even remotely suggest that it was the third-party vendor’s fault and the company is not to blame.”   Read the full article, in which Katz explores the key elements that organizations should consider as they establish a third-party vendor management program.