Law360, New York (April 23, 2015, 10:22 AM EDT) -- Reports of major data breaches at large companies — Anthem, Home Depot and Target, to name a few — have flooded the news cycle over the past couple of years, along with stories of the lawsuits and significant business interruption that inevitably followed the breaches. But it is a mistake to assume that data breaches strike only large companies. The risk is present for every business. In fact, small businesses that cannot afford to spend millions of dollars on cybersecurity are often favored targets. The legal obligations for small businesses can be just as onerous and complex as they can for a Target, and the economic impact even more devastating. Yet, small businesses are often least prepared to handle a data breach. With that in mind, this article outlines some initial steps small businesses should take when they learn about a potential breach....