Recent developments in the intellectual property landscape have only served to enhance the value of trade secrets. For example, the U.S. Supreme Court's recent decision in Alice v. CLS Bank International has led to an increasingly hostile patent marketplace.
As details continue to emerge concerning the $81 million cyberheist of funds from the Bangladesh Central Bank by way of hacked wire-transfer requests sent to the Federal Reserve Bank of New York (NY Fed), a lingering question remains regarding the role people played in approving the transfer requests.
In the immortal words of the Broadway lyricist Johnny Mercer, many people tend to accentuate the positive and eliminate the negative. And we sure don't want to mess with Mr. in-between. Several questions emerge: Is this optimism ingrained in us? And does it sometimes do more harm than good? The answers are yes and yes. Research has recently confirmed that most human beings have an innate optimism bias. But at the same time, that bias can distort our thinking when important decisions have to be made. For litigators, the challenge is how to control our optimism bias when trying to accurately evaluate a case.