Post by account_disabled on Mar 8, 2024 21:08:07 GMT -7
The IP Implications of Data Economy are multiple and evolving fast. How is the current IP system capable, or flexible enough, to face evolutions required for the Data Economy, and for related new forms of trade and exchange between countries? Can evolutions of the current IP system be fast enough to meet these challenges? How can policymakers and legislators in different countries work at the same pace and better harmonize their work? What kind of consensus may exist in various parts of the world and internationally for such changes? For this Session of our Global Digital Encounters, Speakers from Europe, Asia and North America with a variety of opinions will provide a worldwide picture of the future of IIP Implications of Data Economy, and for re-imagining IP in this area in favor of both business and consumers/society. GDE-30-Final-Report-IP-Implications-of-the-Data-Economy-October-2023-1Download Introduction Prof. Laurent MANDERIEUX: The data economy is considerably changing the way intellectual property (IP) systems can and must function. This is something that has become quite obvious.
But how will we change in the future, what elasticity the IP system may have, and what consequences may happen from trade between countries and between companies? This realize not only the value of data but also what the risks are. Especially with cross-border transactions data can flow from one country to another. China has a new data protection law, that is very protective in terms of data collected in China. Let's say you have a Swiss company with an entity in China and they must collect data from their clients and suppliers in China. If someone decides to buy these companies, if there is a breach of data protection laws in USA Phone Number China, it can become liable for a lot of money. Buyers now must be compliant not only with IP laws but also with data protection laws. These two aspects are in the same basket and should be very well-covered by companies. Dr Nicola SEARLE: Coming from a macroeconomic perspective, and in terms of why we need IP and innovation, classical economics says that we need incentives for companies to innovate. This is what other speakers talked about in terms of firms' strategies (liability, raising funds etc.). The other side of this is that we also need those innovations and knowledge to become public again and this about data is a trickier subject.
The data and the digital economy have existed for a while, but there are still many areas of growth. IP is great for incentivizing innovation, but we also is what we want to explore today. He then welcomed the participants and presented the speakers and the moderator. Prof. Javier FERNÁNDEZ-LASQUETTY: This topic is incredibly relevant because the data economy is not about the future, it is about the present. Everything is currently about data. In 2015 the European Union fostered the creation of a data economy before the whole world did. In the future, we will see many improvements and evolutions in this data economy, and of course, IP is at the core of it in many aspects and facets. Caroline BERUBE: The data and digital economy falls within the parameter of law, previously for some time it was part of telecommunications media and technology (TMT sector), particularly in Korea. There has been a growing recognition that the field of data and the digital economy now requires its own complex set of skills and professionals to deal with it. So it is no longer involving only lawyers, but a whole range of people of various competencies. In terms of why it is such an important topic: companies that are on the S&P 500 list have intangible assets that have reached a value of approximately USD 21 trillion. This is a huge part of the economy that we cannot avoid or ignore and must discuss. In terms of cross-border transactions, we are all in different countries and look from different perspectives.
But how will we change in the future, what elasticity the IP system may have, and what consequences may happen from trade between countries and between companies? This realize not only the value of data but also what the risks are. Especially with cross-border transactions data can flow from one country to another. China has a new data protection law, that is very protective in terms of data collected in China. Let's say you have a Swiss company with an entity in China and they must collect data from their clients and suppliers in China. If someone decides to buy these companies, if there is a breach of data protection laws in USA Phone Number China, it can become liable for a lot of money. Buyers now must be compliant not only with IP laws but also with data protection laws. These two aspects are in the same basket and should be very well-covered by companies. Dr Nicola SEARLE: Coming from a macroeconomic perspective, and in terms of why we need IP and innovation, classical economics says that we need incentives for companies to innovate. This is what other speakers talked about in terms of firms' strategies (liability, raising funds etc.). The other side of this is that we also need those innovations and knowledge to become public again and this about data is a trickier subject.
The data and the digital economy have existed for a while, but there are still many areas of growth. IP is great for incentivizing innovation, but we also is what we want to explore today. He then welcomed the participants and presented the speakers and the moderator. Prof. Javier FERNÁNDEZ-LASQUETTY: This topic is incredibly relevant because the data economy is not about the future, it is about the present. Everything is currently about data. In 2015 the European Union fostered the creation of a data economy before the whole world did. In the future, we will see many improvements and evolutions in this data economy, and of course, IP is at the core of it in many aspects and facets. Caroline BERUBE: The data and digital economy falls within the parameter of law, previously for some time it was part of telecommunications media and technology (TMT sector), particularly in Korea. There has been a growing recognition that the field of data and the digital economy now requires its own complex set of skills and professionals to deal with it. So it is no longer involving only lawyers, but a whole range of people of various competencies. In terms of why it is such an important topic: companies that are on the S&P 500 list have intangible assets that have reached a value of approximately USD 21 trillion. This is a huge part of the economy that we cannot avoid or ignore and must discuss. In terms of cross-border transactions, we are all in different countries and look from different perspectives.