EU Data Act approved to Revolutionize Digital Economy

On November 27, 2023, the Council of the European Union made a significant stride in digital policy by approving the Data Act.

This pivotal legislation aims to reshape the fair distribution of value generated from data in the digital economy.

The Data Act: Objectives and Impacts

The Data Act mandates service providers and product manufacturers to allow users to access and reuse data from their services. This includes sharing data with third parties and enhancing data portability across all economic sectors. It applies to both personal and non-personal data, emphasizing greater control for individuals and businesses.

One of the key goals is to stimulate a competitive data market. By facilitating access to data, it opens new doors for innovation and ensures fair, reasonable, and non-discriminatory data sharing practices. The Data Act distinguishes between product data and related service data, providing robust protection for trade secrets and intellectual property rights.

Future Context and Implementation

The Data Act complements the Data Governance Act, aiming to establish a data-driven economy by 2030. It's scheduled for publication in the EU Official Journal soon, with its provisions coming into effect 20 days post-publication and full application after 20 months.

Conclusion

The approval of the Data Act marks a major step in the EU's digital regulatory landscape. It represents a significant move towards an equitable and innovative digital future, setting the stage for a transformative decade in the digital economy.

On a similar topic, you can read the article “Digital Services Act (DSA): Obligations for Large Online Platforms in Force“.

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