LEGAL DIMENSIONS OF DIGITAL TRANSFORMATION: A STUDY ON DATA PROTECTION AND BUSINESS SUSTAINABILITY IN THE DIGITAL ECONOMY

Abstract

The rise of the digital transformation has mainly had revolutionized how the way in which businesses operate, interact with the consumers, as well as too compete in the global markets. The change has also come with some complex legal concerns of data protection, privacy and intellectual property and sustainable business models though. The paper will discuss the legal issues of the digital transformation that are interested in how law on data protection is realised, and business sustainability in the shifting digital economy. It takes into account the international systems of regulation such as the General Data Protection Regulation (GDPR), national data protection laws, as well as the industry-specific compliance systems. The study will also touch on how companies can optimise innovation and efficiency and at the same time comply to morals and the law to ensure that the business is sustainable in the long run. Finally, it gives the vision of the future of data governance and legislative adjustments that should be made to enable the responsible digital economy.