Today, January 11, 2024, marks the entry into force of EU Regulation 2023/2854, better known as “Data Act”.

The new regulation sets forth new rules on B2B and B2C data access and provides a regulatory framework for sharing data generated by the use of connected devices and related services. In addition, the Data Act contains measures to restrain economic operators from abusing contractual imbalances in data-sharing contracts.

The new regulation’s declared goals are to:

• stimulate a competitive and fair data market;
• foster data-driven innovation;
• boost data accessibility;
• make it easier to switch between data processing service providers;
• protect data from unlawful transfers;
• develop interoperability standards for data to be reused between sectors.

Art. 50 of the regulation provides that the new set of rules shall apply from September 12, 2025; however, certain articles, shall apply at a later stage.