When the European Union’s General Data Protection Regulation (GDPR) enforced back in May 2018, individuals gained significantly better control of their data. Also, companies all over the world were met with an extensive set of new demands as to how they manage personal data.
It is still uncertain exactly how GDPR will be enforced, and how many resources each EU Member State chooses to devote to their data authorities. British Airways faced a record fine of £183 million because a data breach while the Spanish football league La Liga received a fine of just €250.000 for spying on football fans through an app. That shows hows different the law is interpreted from country to country. While we are still awaiting supreme court judgments and further specification from the European Union, GDPR has and will nevertheless continue to require changes in the company cultures. No matter what happens, the regulation has been a milestone for data security and privacy law in the digital age. The law as already proved to be unavoidable since it raises the level of awareness among consumers which forces businesses to take it seriously.
The regulation is far-reaching and complex, and if you think it does not apply to you, then you are most likely wrong. GDPR applies to every company that holds or processes personal data regarding individuals residing in the EU. That said, you have no reason to panic if you run an honest business. GDPR is not designed to be a hindrance on the market and make it impossible for business to operate. The regulation is created to make a single set of rules that regulates the untamed use of and trade with personal information.
Yes, the regulation has already enforced. No, it does not mean that it’s too late for you to do something about it. GDPR-compliance requires continuingly optimisation, as you always have to be looking for new standards and state-of-the-art solutions. If you are nowhere near to be ready, the first important step is to realise that compliance requires action. The second step is actually to act. The third important step is to make sure that your activities are well-documented.
It is said that a well-defined problem is halfway to being solved, so in this e-Book, we will define the essential elements of the new regulation as well as guide you through all the important new documents you must have in place.
The purpose of this eBook is to give you an overview of the General Data Protection Regulation (GDPR) and what it means for your business.
Over the past year, Legal Tech Weekly has been conducting its own research and published more than 50 articles on legal tech and legal innovation. Now, we have gathered those insights and condensed them into a single coherent analysis of the status quo of legal tech and legal innovation in 2019.
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