Most lawyers have heard of the “Internet of Things.” Business leaders, after all, are busy making the Internet of Things (IoT) the next great wave of innovation to sweep across the global economy. Apple, AT&T, Cisco, General Electric, Google, Honeywell, Intel, Microsoft, Oracle, Panasonic, Samsung, and scores of others have been investing in the IoT for years. With current predictions of a $15 trillion IoT market in fewer than 10 years, it is easy to understand why so many industry giants have made the IoT a strategic priority.
How could the market grow that rapidly? For one thing, the core technology driving the IoT has long existed, and real-world examples of IoT systems abound.
