#EUDataActSeries: Legal and Contractual Requirements—A Business Perspective In the realm of connected products, the EU Data Act introduces stringent legal and contractual requirements that will reshape how businesses interact with third parties and data owners. If you think this is just about compliance, think again. It’s also about creating robust frameworks that protect business interests while enabling innovation. Let’s talk specifics. For connected product manufacturers, the Act demands that contracts with third parties be comprehensive and transparent. Here are some key points that every business leader needs to consider: 1.? ?Explicit Data Use Agreements: Contracts must clearly outline the scope of data usage. This means detailing not only how data will be utilized but also how it won’t be. Misalignment or vagueness can lead to serious financial and reputational risks. 2.? ?Fairness and Non-Discrimination: The Act emphasizes fairness, requiring that terms offered to third parties be non-discriminatory. Businesses will need to review and possibly renegotiate agreements to ensure compliance, especially if those terms involve strategic data assets. 3.? ?Liability and Accountability: Clear delineation of responsibilities is critical. Who is accountable if data is mishandled? What are the liability terms if something goes wrong? These provisions aren’t just legal necessities; they are critical to managing financial and operational risk. From a business value perspective, getting these contracts right is crucial. Not only do they mitigate legal exposure, but they also create a foundation for secure, sustainable data collaborations that can fuel future growth. At Connect Reply, we understand the economic models underpinning data-driven strategies. We’re here to help you navigate these contractual complexities and align your data partnerships with your broader business objectives. Ready to strengthen your data contracts and unlock new opportunities while staying compliant? Contact us to learn more. #EUDataAct #ConnectedProducts #DataGovernance #BusinessStrategy #ConnectReply Gianluca Lupica Daniele Vitali
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Great insights from Luigi Rega on the contractual requirements of the EU Data Act. We are no lawyers, that’s why we partner with expert legal firms to provide full support to our customers. Thanks to our collaboration with Leading Law Notai e Avvocati we provide an end to end service across EU
#EUDataActSeries: Legal and Contractual Requirements—A Business Perspective In the realm of connected products, the EU Data Act introduces stringent legal and contractual requirements that will reshape how businesses interact with third parties and data owners. If you think this is just about compliance, think again. It’s also about creating robust frameworks that protect business interests while enabling innovation. Let’s talk specifics. For connected product manufacturers, the Act demands that contracts with third parties be comprehensive and transparent. Here are some key points that every business leader needs to consider: 1.? ?Explicit Data Use Agreements: Contracts must clearly outline the scope of data usage. This means detailing not only how data will be utilized but also how it won’t be. Misalignment or vagueness can lead to serious financial and reputational risks. 2.? ?Fairness and Non-Discrimination: The Act emphasizes fairness, requiring that terms offered to third parties be non-discriminatory. Businesses will need to review and possibly renegotiate agreements to ensure compliance, especially if those terms involve strategic data assets. 3.? ?Liability and Accountability: Clear delineation of responsibilities is critical. Who is accountable if data is mishandled? What are the liability terms if something goes wrong? These provisions aren’t just legal necessities; they are critical to managing financial and operational risk. From a business value perspective, getting these contracts right is crucial. Not only do they mitigate legal exposure, but they also create a foundation for secure, sustainable data collaborations that can fuel future growth. At Connect Reply, we understand the economic models underpinning data-driven strategies. We’re here to help you navigate these contractual complexities and align your data partnerships with your broader business objectives. Ready to strengthen your data contracts and unlock new opportunities while staying compliant? Contact us to learn more. #EUDataAct #ConnectedProducts #DataGovernance #BusinessStrategy #ConnectReply Gianluca Lupica Daniele Vitali
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As of early 2024, the new Data Act entered into force and is set to be largely enforceable from 2025. This new regulatory framework may require significant legal and engineering effort to (re-)design affected products/services and business processes to ensure compliance. Organizations are advised to evaluate their compliance strategies well in advance of the enforcement deadlines, given the complexity of changes and efforts for implementing technical and organizational solutions. Read more in our article by Daniel Ruecker, Sebastian Dienst and Dr. Korbinian Hartl: https://lnkd.in/eDA8yWSz #teamnoerr #dataact #europeandatalaw
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Partner Financial Services | Global Lead Client Service Partner | Regulatory Advisory & Reporting practice leader at Deloitte Nederland
The #EUDataAct aims to foster data sharing among businesses, governments, and citizens—providing unprecedented opportunities for innovation and growth. The Act will influence the way businesses manage, share, and profit from data, revolutionizing the B2B landscape. So how can your legal team prepare for Data Act compliance? Check out our report to get started: https://lnkd.in/e-BuJNxP #DataSharing #DeloitteLegal #WhereLegalMeetsBusiness
Business-to-Business data sharing under the EU Data Act | Deloitte UK
www2.deloitte.com
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The #EUDataAct aims to foster data sharing among businesses, governments, and citizens—providing unprecedented opportunities for innovation and growth. The Act will influence the way businesses manage, share, and profit from data, revolutionizing the B2B landscape. So how can your legal team prepare for Data Act compliance? Check out our report to get started: https://deloi.tt/3UIIkf3 #DataSharing #DeloitteLegal #WhereLegalMeetsBusiness
Business-to-Business data sharing under the EU Data Act | Deloitte UK
www2.deloitte.com
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Managing Director | Leading ITAD Services | Secure Logistics | Data Destruction | Field Service Engineering |
?? Data compliance stressing you out? Let SAS Tech ease your worries. Our compliance solutions ensure your business meets all regulatory requirements, so you can focus on what you do best. Reach out today and let's keep your data in check! #DataComplianceExperts #RegulatoryRelief #SASTech ????
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?? Data compliance stressing you out? Let SAS Tech ease your worries. Our compliance solutions ensure your business meets all regulatory requirements, so you can focus on what you do best. Reach out today and let's keep your data in check! #DataComplianceExperts #RegulatoryRelief #SASTech ????
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#EUDataActSeries: Protecting Trade Secrets in the Era of the EU Data Act: A Strategic Imperative for Connected Product Manufacturers Let’s cut to the chase: The EU Data Act is a game-changer for data transparency and sharing. But for connected product manufacturers, it raises a critical concern—how do you protect your trade secrets when data sharing becomes mandatory? Trade secrets are the backbone of innovation. They encompass everything from proprietary algorithms and unique product designs to sensitive manufacturing processes. With the EU Data Act’s emphasis on data openness, manufacturers must navigate a complex landscape: comply with data-sharing rules while ensuring that their most valuable insights remain shielded from competitors. Here's what needs to be on your radar: 1.? ?Clear Contractual Safeguards: When sharing data, precise contractual terms must define what can and cannot be used by third parties. Vague agreements could expose your competitive edge. 2.? ?Data Sterilisation and Encryption: Advanced techniques are essential for protecting sensitive data. Sterilisation can be a powerful tool, but only if done right—ensuring the core intellectual property remains protected. 3.? ?Strategic Data Governance: It’s not just about compliance; it’s about strategically managing what data you share, when, and how. Manufacturers need robust governance frameworks to stay secure and competitive. Safeguarding trade secrets under the EU Data Act isn’t optional; it’s a strategic necessity. The companies that get this right will not only protect their assets but also position themselves to thrive in a data-driven market. At Connect Reply, we’re experts at helping businesses achieve this balance. Contact us to learn how we can make your data strategy both compliant and fiercely protective of your intellectual property. #EUDataActSeries #EUDataAct #ConnectedProducts #DataGovernance #TradeSecrets #ConnectReply Gianluca Lupica Luigi Rega
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Managing Director | Leading ITAD Services | Secure Logistics | Data Destruction | Field Service Engineering |
?? Data compliance stressing you out? Let SAS Tech ease your worries. Our compliance solutions ensure your business meets all regulatory requirements, so you can focus on what you do best. Reach out today and let's keep your data in check! #DataComplianceExperts #RegulatoryRelief #SASTech ????
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Whether you need to load a CLM, answer a regulatory request, conduct pre-acquisition diligence, or complete a post-acquisition integration, data extraction is unavoidable. Unfortunately the larger the contract portfolio you're starting with, the more overwhelming the contract review process seems. We understand the complexity of this process and the effort it takes to complete contract review at scale if you are relying on humans to do all the work. Our AI helps humans get better data faster. With Catylex, you can defeat the contract data monster and increase the ROI of your next data extraction project. Check out our latest blog ?? https://hubs.li/Q02t20f_0 #contracts #legaltech #data #contractAI
How to Defeat the Contract Data Monster and Increase ROI
catylex.com
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Struggling with data quality and compliance? 360workx can help! Is data quality and compliance giving you a headache? 360workx can help! Are you struggling to maintain high-quality data while ensuring compliance with regulations??You're not alone.?Many businesses face challenges in this area. Here at 360workx,?we understand your pain points.?That's why we offer a comprehensive solution to help you: 1. Improve data quality:?Our tools and services can help you identify and clean inaccurate or incomplete data,ensuring your information is always reliable. 2. Enhance data governance:?We can help you establish strong data governance practices to ensure your data is managed effectively and consistently. 3. Streamline compliance:?Our solutions can help you streamline compliance with regulations like GDPR and CCPA,saving you time and resources. 4. Empower data-driven decisions:?With clean,?compliant data,?you can make better-informed decisions that drive business growth. Don't let data quality and compliance hold your business back.?Contact 360workx today and learn how we can help you achieve your goals! #dataquality #compliance #datagovernance #datadrivendecisions #360workx
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