Combination of locally intelligent devices with backend Cloud-based processing is giving rise to a new class of Edge or Fog Cloud Computing, which offers new usage models, but also raises potential of new vulnerabilities with possibility of widespread cyber-attacks. There are additional concerns of user lock-ins if vendors do not follow interoperability standards in their edge-based devices in proprietary cloud solutions. Additional issues of user-data privacy and legal jurisdiction currently lag the fast evolution of Edge Computing domain with IoT-based solutions. This requires policy framework to be discussed by vendors and Cloud Service providers with the users for avoiding any legal pitfalls. We present a historic computing spiral, showing that industry has oscillated between large central computers, to localized computing and hybrid models leading back to the spiral growth. This now requires large central computers to handle the distributed Edge Computing demand. This trend is likely to continue as networks will become faster and machines will become more intelligent to recognize patterns of data to make decisions. In this evolution, it is important to develop standards for interoperability of computing devices on the edge and servers on the backend, to ensure a level-playing field.