Trialogue discussions to finalise the Data Act are currently in full swing, with the aim of completing the work by the summer.
The overall aim of the Data Act is to increase Europe’s competitiveness and innovation. However, the Data Act is highly complex and, in several parts, potentially disruptive. It will undoubtedly have a major impact on data-driven business models and contractual relationships.
The business community has highlighted the problems inherent with the rapid political decision-making process being used, as there are still serious shortcomings that the Data Act needs to address.
The Data Act must not least ensure legislative consistency. Furthermore, greater attention should be given to meet businesses’ need of contractual freedom and reciprocity of obligations. The Data Act must also avoid reducing the protection granted to trade secrets, in line with the Trade Secrets Directive 2016/943. This protection is fundamental for ensuring a well-functioning internal market.
Both the Council and the Parliament have demonstrated positive intent to improve the Data Act, not least on protecting trade secrets. However, one vital component is still missing; that of the consent of the trade secret holder.
Data act