Data Transaction Contracts and Related Legal Issues
With the boom of the data industry in China, data has been widely recognized as a form of asset, and data transactions are thriving nowadays. Correspondingly, various data transaction contracts emerge as legal support for such transactions. As the property attribute of data is not clearly defined and rules on data ownership are yet to be enacted, however, problems relating to the validity and legal nature of data transaction contracts and applicable laws are unavoidable. Dealings in data represent a seemingly endless value chain ranging from data input, collection, maintenance, classification, verification, processing, to exchange, reprocessing, analysis and mining. This article focuses on the contracts that set out terms of data transfer and transaction under Chinese law.