Last year ended with a series of fines imposed by the President of the Personal Data Protection Office. They show the importance of taking take care of data security—and how costly it can be if you don’t.
To complement our previous considerations about the civil-law status of data, we should analyse the possibility of using data to create security interests in business transactions. The increasing economic value of data inspires a search for effective ways to collateralise these assets.
A natural extension of the consideration of the legal status of data is the question of whether data can be inherited. This is no longer just a theoretical issue. Data are increasingly valuable, making it vital to answer the question of whether data constitute an asset of the decedent’s estate that can be taken over by the heirs.
When seeking inspiration for the future legal status of data, it is worth taking a closer look at how the right to personal data has been shaped. In particular, we could consider whether it is a property right and whether the current legal framework for the right to personal data corresponds to reality and meets our needs.
Dematerialisation of shares: Change in deadlines and the perspective of the Personal Data Protection Office
The mandatory dematerialisation of shares of stock, introduced by the 30 August 2019 amendment of the Commercial Companies Code, was intended to bring about a situation as of 1 January 2021 where the shares of all joint-stock companies and joint-stock limited partnerships in Poland would take the form of an electronic record, and share documents would lose their legal force from that date. But the coronavirus epidemic has made it difficult for commercial entities to make this organisational change, and the parliament has extended the deadlines for complying with certain obligations related to dematerialisation of shares. The Polish Personal Data Protection Office has also issued an opinion on dematerialisation.
The law is one of the main instruments of social impact, which is particularly evident in the midst of a global health crisis, when the situation and applicable regulations are changing every day. New statutes and regulations are key to maintaining the delicate balance between order and chaos, public and private interests, and the common good and individual rights.