 In March, President Biden released his administration's new national cybersecurity strategy. This followed a number of executive orders and other actions that he has taken and other governments have taken around the world. It is the latest in a series of movements in the regulatory and legal responsibilities for companies to take proactive steps to defend against cybersecurity incidents. While the Biden plan may be the most ambitious we've seen thus far, other governments are also advancing new regulatory requirements. For example, the EU has proposed new regulations that would require any device connected to the Internet to have security features built in. So after years of relying mostly on voluntary efforts to encourage companies to shore up their cyber defenses, these government and regulatory developments seem to be examples of how regulators are deploying new tools and incentives to mitigate cybersecurity risks. Should the Biden plan become policy, companies can expect to face new regulations and lawsuits, perhaps, if they fail to make secure products or do not enact basic cybersecurity measures. It seems that business leaders must prepare themselves now to operate in a global economic environment with increased cybersecurity requirements and liability.