A spotlight on emerging market practice in supplier contracts in the run up to 25 May 2018 and beyond.
You are only as strong as your weakest link
With increased outsourcing to the cloud or other third party external service providers and an increasingly complex supply chain for businesses, modern strategies for leveraging data can bring significant business efficiencies, competitive edge and growth opportunities, but also a range of risks that need to be understood and mitigated.
This has been mapped by a rise in the increased relevance of data protection and associated regulation. In the words of the Information Commissioner, the EU General Data Protection Regulation (the "GDPR") represents an "evolution" rather than a "revolution" in data protection regulation. Whilst existing data protection obligations have certainly been "tightened up" a notch, fundamentally, the current underlying data protection principles remain largely unchanged.
The new EU data protection framework does, however, introduce some key changes that are giving rise to closer scrutiny of the supply chain protections in place between controllers and processors and, in turn, we are seeing a shift in the approach adopted by both parties in negotiating and implementing data processing arrangements.
The contents of this publication, current at the date of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
© Herbert Smith Freehills 2020