GDPR and E-Business - Sleeper?
If you do not understand the European Union’s General Data Protection Regulation (GDPR), the time to understand its provisions and adequately plan for it began a while ago. On the other hand, catching up on this important privacy regulation that will reach far beyond the EU should start now. Online companies dealing with EU internet citizens could be fined for non-compliance as personal privacy takes pre-eminence and careful data gathering becomes a top priority.
Very large global companies are well-equipped with regulatory compliance professionals and far-reaching organizations to meticulously scour the GDPR to formulate a thorough response and adapt their internal processes. Small to mid-sized internet-based companies, including internet sellers, might need guidance and direction from partners, or hired professionals to negotiate and function optimally in this new, regulatory system. Could this development have an even greater impact than Net Neutrality upon our ability to do business online?