Editor’s note: Randy Sabett is the vice chair of the privacy and data protection practice group at Cooley and the former commissioner of the commission on cyber security for the 44th presidency. Lindsy Solanki represents technology companies and startups as an associate in the Emerging Companies practice group at Cooley, LLP.
The finishing touches of the European Union General Data Protection Regulation (GDPR) are underway, and with it, many international companies that have data passing through the EU, house customer data of EU residents or are based in the EU are concerned about how they will fare once the new law is enacted. And they should be, as non-compliance could result in costly penalties under the proposed regulation – up to 5 percent of a company’s annual worldwide revenue or up to €100 million (~$120 million).
In addition to the heavy fines and loss in revenue, non-compliance could…
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