Q2 | Torys Quarterly • Spring 2022
The new data economy: opportunity and risk for business

Businesses are harnessing the power of an increasingly valuable asset: their data. We look at strategies and practices to keep pace with the fast-evolving opportunities and risks at play.

Faire défiler

Dealmaking and data

With data now an integral part of a company’s valuation, data plays a critical role not just throughout the deal life cycle, but also well beyond a transaction’s closing.

Companies must be conscientious in remediating deficiencies identified during due diligence to limit potential exposure to liability for violations of law and data breaches.
— Privacy and data security due diligence: The importance of implementing post-closing improvements

Understanding your company’s data profile

An effective data strategy must take an enterprise-wide view that addresses your company’s data rights and is flexible to emerging developments that will impact the business.

Appreciating how Canada’s assortment of legal rights and restrictions applies to data will allow businesses to gain a more accurate understanding of their rights—and therefore the value of their data.
— You don’t own your data, but you can still protect it

Meeting risk with strategy

Data-related regulatory and litigation risk is at the top of many decision-makers’ agendas as legal frameworks and courts around the world respond to the ongoing and pervasive impact of data.

The framework will significantly expand the amount of personal information that banks hold, and as a result their obligations vis-à-vis that information.
— How to safeguard customer privacy under the Financial Consumer Protection Framework

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