The transatlantic project ‘Principles for a Data Economy’, which is conducted by the European Law Institute (ELI) together with the American Law Institute (ALI), is making significant progress. On 21 January, the remaining Principles were approved by the ALI Council (ALI Council Draft No. 2) after the first part of the Principles had already been discussed and approved in January 2020. Over the course of the past months, Christiane Wendehorst, Neil Cohen and their team had revised and amended the Principles with important feedback received from both ELI and ALI members and advisors as well as stakeholders of the data economy. The project aims to produce a number of Principles that provide guidance for players involved in the data economy, applicable in any legal system and to various kinds of transactions.

The project is currently on track for its finalisation. In the weeks to come, the Principles for a Data Economy will be revised and finalised for submission to the Council Meeting of the ELI, which will take place in February 2021. As a next step, the project will be presented to the members of the ALI at their Annual Conference to take place in Washington in May 2021.