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Thursday, 07 April 2016

Global companies monitoring EU debates to better navigate international privacy regulations according to new report

  • A new EIU report finds regulators and global business leaders struggle to navigate the legal limbo following the rejection of the longstanding Safe Harbour agreement 
  • Companies are seeking innovative ways to build and maintain value from data privacy despite the confusion 
  • The ongoing privacy debates in the EU are in the international spotlight because most experts expect them to set the tone for the next wave of global privacy regulations 

A new report published today, April 7th 2016, by The Economist Intelligence Unit (EIU) says that the legal limbo global companies face around privacy and data security is spurring innovative approaches to address risks and achieve compliance.

The report, Companies, digital transformation and information privacy: The next steps, sponsored by Intralinks, Hewlett Packard Enterprise, and Intel Corporation, assesses how global companies are addressing a fluctuating data privacy landscape. The report includes insights collected from interviews with regulators, legal privacy experts, and global business and technical executives.

Today’s global corporations operate in countries that must cope with varying rules and obligations around privacy protection, both within their borders and outside them. Corporations are challenged to design and implement security solutions that can adapt with the unfolding privacy laws across the many jurisdictions in which they operate. 

Furthermore, a recent ruling about Safe Harbour’s inadequacy has garnered international attention. Given the EU's economic importance and typically high privacy standards, the current debate there has become a focus for many experts as they seek to prepare for future regulation.

Rebecca Lipman, the editor of the report, said: 
“Many of the challenges companies face with data security result in costly fines and reputational damage. And the challenges are technical and cultural as well as legal. By employing specialised privacy officers, applying advanced technical solutions, creating external partnerships, and building stronger internal-facing mandates for how employees handle data, businesses are strategically creating unique, multifacted approaches that they hope will be flexible enough to navigate the fluctuating regulatory landscape.”

Download the report here.

Press enquiries:
Mathew Hanratty, corporate communications manager
+44 (0)20 7576 8546
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Rebecca Lipman, deputy editor
+1 212 6419825
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Notes to editors

About The Economist Intelligence Unit
The Economist Intelligence Unit is the world leader in global business intelligence. It is the business-to-business arm of The Economist Group, which publishes The Economist newspaper. The Economist Intelligence Unit helps executives make better decisions by providing timely, reliable and impartial analysis on worldwide market trends and business strategies. More information can be found at www.eiu.com or www.twitter.com/theeiu.

About Intralinks
Intralinks Holdings, Inc. (NYSE: IL) is a leading, global technology provider of secure enterprise content collaboration solutions. Through innovative Software-as-a-Service solutions, Intralinks software is designed to enable the exchange and control of information between organizations securely and compliantly when working through the firewall. More than 3.3 million professionals at 99% of the Fortune 1000 companies have depended on Intralinks' experience. With a track record of enabling high-stakes transactions and business collaborations valued at more than $28.1 trillion, Intralinks is a trusted provider of easy-to-use, enterprise strength, cloud-based collaboration solutions. For more information, visit www.intralinks.com.

About Hewlett Packard Enterprise
Hewlett Packard Enterprise is an industry leading technology company that enables customers to go further, faster. With the industry's most comprehensive portfolio, spanning the cloud to the data center to workplace applications, our technology and services help customers around the world make IT more efficient, more productive and more secure.

About Intel
Intel (NASDAQ: INTC) expands the boundaries of technology to make the most amazing experiences possible. Information about Intel and the work of its more than 100,000 employees can be found at newsroom.intel.com and intel.com.

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