The Current Draft

The latest version of the 'Principles for a Data Economy' was presented at the American Law Institute Annual Meeting in May 2021. Tentative Draft No. 2 follows the structure outlined below.

The first Part sets out the purpose and scope of the Principles and provides definitions of key terms to ensure consistency with both established terminology worldwide and other ALI and ELI work.

The second Part of the Principles establishes sets of default terms that seem appropriate for different basic types of data transactions.

The third Part of the Principles deals with different kinds of data rights, such as access rights, portability rights, rights to request desistance from control and/or processing, or to request correction of data. Such data rights are often based on notions of fairness.

The fourth Part of the Principles deals with scenarios in which transactions can interfere with rights of third parties, such as intellectual property rights or rights derived from data privacy/data protection law.

Transactions in the data economy hardly ever occur within the confines of national borders. Accordingly, the last Part provides some guidance as to the application of rules and doctrines of private international law to issues in the data economy.