Data is fueling innovation like never before. From AI development to strategic decision-making, high-quality data is a powerful business asset. However, it also comes with significant legal considerations. Privacy laws, intellectual property rights, and ethical obligations are all evolving quickly, and businesses must stay ahead of the curve.
We’ve written about three areas companies should keep in mind when working with data:
- Creating datasets: Privacy and ethics should guide collection. Small details can reveal personal identities, and biased or incomplete data can undermine entire AI systems.
- Licensing third-party data: Pay close attention to ownership, scope, warranties, and liability in agreements.
- Using public data: Public availability does not equal unrestricted use. Licensing terms, privacy laws, and governance protocols still apply.
Data is a powerful driver of innovation and a potential source of significant legal exposure. Proactive governance, thoughtful contracting, and attention to ethics and privacy can help businesses unlock the value of data while minimizing the risks.
Read the full article on stoel.com for practical guidance on building a responsible approach to data.