Vaultedge Blog

One simple step to mitigate contractual dilemmas Sir Arthur Charles Clark once said,                     “Any sufficiently advanced technology is indistinguishable from magic.”  And the words rightly describe an Artificial Intelligence (AI) in the modern day world. You may be the business organization which lacks a strong legal cell or may be the one which possesses an efficient team of lawyers. In either case, the challenge of managing a great deal of contracts never comes to an end. Long working hours are invested by lawyers in reviewing the terms of the Contract, in extracting and interpreting the potential of clauses of any contract. And, now imagine an AI which does the same work in the blink of an eye and with better efficiency.  The consequence of failing in endeavours to meet such challenges is extravagant. Contracts, often, in the stage of negotiation requires a higher degree of acumen in scrutinising the clauses and envisaging the risks involved before agr

The General Data Protection Regulation and its impact on  Indian  business contracts Introduction: The General Data Protection Regulation [2016] (hereinafter referred to as GDPR) is a landmark data protection law enacted by the European Union (hereinafter referred to as 'EU') with a view to protect rights of individuals within the Union. The law was adopted by the EU member states in 2016 but took effect only in May 2018. By adopting the GDPR, the EU has taken a significant step forward with respect to data protection and privacy rights in this modern day and age to keep up with the pace of technological developments. The GDPR [2016] has superseded the Data Protection Directive [1995] - which previously regulated the processing of personal data of EU citizens and protected their privacy rights. It is important to understand that the erstwhile data protection law, ie: the Data Protection Directive [1995] was only a ' directive ', which meant that it cou