technological risks

What are the Common Types of Technological Risks?

1. Cybersecurity Risks: Startups are particularly vulnerable to cyber attacks due to limited resources for robust security measures.
2. System Failures: Hardware or software malfunctions can lead to operational downtime, affecting productivity and revenue.
3. Technological Obsolescence: Rapid advancements in technology can render existing solutions obsolete, requiring continuous investment in upgrades.
4. Data Privacy Issues: Non-compliance with data protection regulations can result in hefty fines and loss of customer trust.
5. Intellectual Property Theft: Protecting intellectual property is crucial for startups to maintain their competitive advantage.

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