Move over iPhones, wearable technology may soon be the next big player in the tech toy industry. According to lawyers in Morrison & Foerster’s technology practice group in this recent blog post, the wearable device market is estimated at $1.6 billion and is expected to grow to $5 billion by 2016.
But with the growth, comes legal issues, especially considering the amount of information the devices collect and its potential for misuse. Like many innovations, wearable technology is one where the law is lagging behind, according to MoFo partner Gabriel Meister. “Often, the legislative response to perceived risks is very blunt, until we figure out exactly what the risks are,” said Meister.
