Legal Dilemmas and Regulatory Design for Data Transactions
Hongbin Yu · US-China Law Review · 2023
Existing policies and institutional environment pay increasing attention to data transactions, but have yet to establish effective institutional support.As a result, they have failed to provide behavioral guidelines for the practice of data transactions.The main challenges in the construction of data transaction system are centered on the position of data in legal theory, the distribution model of rights and interests, the undefined legal nature of data transactions, the significant theoretical differences, and the insufficient top-level design of data transaction regulation and institutional system, which result in the inability to satisfy the needs of practice.Therefore, theoretical research should adequately respond to the practical demands of data economic activities from the perspective of data utilization, rather than data protection when constructing the distribution mechanism for data-related rights and interests, and distinguish the subject of the transaction to accurately define the legal nature of data transactions.Meanwhile, the functional position of data trading platforms should be clarified and systematic supporting regulations should be formulated.