What does it actually mean to treat data as an asset?

We understand what it means to own a house, a car, a share in a company, a patent or a trademark. In each case, there is an established legal framework that defines the asset, establishes who holds it and enables it to be sold, transferred, financed or protected.

Data is more complicated. A business may have spent decades building a valuable body of data that it protects and depends upon, yet establishing precisely what constitutes that asset, and what rights are attached to it, is far less straightforward.

That uncertainty has commercial consequences. It can make data harder to value, license or share with confidence, leaving transactions heavily dependent on contracts and trust between the parties rather than an independently verifiable understanding of what the data is and how it may be used.

Aga Strandskov, Head of Data Strategy, Digital Isle of Man

This is a challenge we have been...

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