When a DNA Testing Firm Goes Bankrupt, Who Gets the Data? 114
wiedzmin writes "DeCODE Genetics, a genetics research firm from Iceland, has filed for bankruptcy in the US, and Saga Investments, a US venture capital firm, has already put in a bid to buy deCODE’s operations, raising privacy concerns about the fate of customer DNA samples and records. The company hasn’t disclosed how many clients signed up for its service, but provides a number of customer testimonials on its site, including Dorrit Mousaieff, Iceland’s first lady."
Re:privacy (Score:4, Informative)
So, it seems like the whole issue is moot unless the new owner wants to blast through a listed policy. A client's 'personal data' is somewhat more at risk:
Not much see here, move along.
Re:Love it... (Score:2, Informative)
The phrase you're looking for is "vendor lock-in". You can only access your files and your data with The Chosen And Approved Tools.
And, frankly, once your company was on the annual maintenance bus, there's no way the vendor would want to provide extra features, like generic export... they know you're screwed if you try to leave.
Occasionally, that tactic fails, and they lose a maintenance stream. But it usually works. Especially if the next software release has Magic Special Feature everyone at the client site wants. (Which will need all new servers, and upgraded workstations, and more SAN, and better networking, and when you finally get it deployed, you'll find out they lied right at your C?O's face. Again. And yet he's not held accountable for continuing to pay for their crap.)