In the new digital economy regulation of data is not only heatedly debated in the political arena, it has also become the subject of academic research. New business models are emerging based on the current digital transformation of manufacturing and the digital transformation of many products. These smart products, such as autonomous cars, collect a huge number of data. The question arises: Who owns the data and how should access to these data be regulated? Josef Drexl is interested in the future regulation of the data economy and explores the question of how we can generate or enable markets to emerge that build on the use of data. As he explains in this video, a research group at the Max Planck Institute for Innovation and Competition led by him and his colleague Reto Hilty has concluded that – based on an analysis of the workings of the market – there is no need to recognize ownership in data and that sector-specific adopted of targeted rights of access to data should be preferred to a property approach.
Watch here.