{
 "name": "The rules a large company's data sale turns on",
 "title": "The rules a large company's data sale turns on",
 "kind": "terms-board",
 "url": "https://sellenterprisedatatoai.com/datasets/enterprise-data-sale-rules/",
 "csv": "https://sellenterprisedatatoai.com/datasets/enterprise-data-sale-rules.csv",
 "markdown": "https://sellenterprisedatatoai.com/datasets/enterprise-data-sale-rules/index.md",
 "computed_at": "2026-10-28",
 "license": "https://sellenterprisedatatoai.com/terms",
 "headline": "6 of 14 legal texts read in GB and the US set conditions a company must meet before licensing its operating data, newest read 28 October 2026.",
 "quotes": [
  "6 of 14 legal texts read in GB and the US set conditions a company must meet before licensing its operating data, newest read 28 October 2026.",
  "What the rule guards, by instrument: data or assets reaching a foreign power 3 of 14, agreements that restrict competition 2 of 14, the directors' or stockholders' say 2 of 14, price-sensitive information disclosed selectively 2 of 14, personal data inside the records 2 of 14, information kept secret for its value 2 of 14, not stated 1 of 14 (14 instruments, read 28 October 2026).",
  "What it does to a sale, by instrument: sets conditions the seller must meet 6 of 14, prohibits a kind of transaction 4 of 14, varies 3 of 14, gives the owner a right to enforce 1 of 14 (14 instruments, read 28 October 2026).",
  "Who enforces it, by instrument: not stated 10 of 14, stated 4 of 14 (14 instruments, read 28 October 2026)."
 ],
 "citation": "\"The rules a large company's data sale turns on\", updated 2026-10-28, https://sellenterprisedatatoai.com/datasets/enterprise-data-sale-rules/.",
 "national": {
  "n": 14,
  "unit": "instruments",
  "documents": 20,
  "published_sources": 14,
  "named_sources": 21
 },
 "board": {
  "type": "clauses",
  "noun": {
   "one": "instrument",
   "many": "instruments"
  },
  "document": {
   "one": "text",
   "many": "texts"
  },
  "fields": [
   {
    "id": "concern",
    "label": "What the rule guards",
    "counts": {
     "personal-data": 2,
     "governance": 2,
     "competition": 2,
     "not-stated": 1,
     "secrecy": 2,
     "national-security": 3,
     "market-fairness": 2
    },
    "values": [
     {
      "value": "secrecy",
      "text": "information kept secret for its value"
     },
     {
      "value": "market-fairness",
      "text": "price-sensitive information disclosed selectively"
     },
     {
      "value": "competition",
      "text": "agreements that restrict competition"
     },
     {
      "value": "national-security",
      "text": "data or assets reaching a foreign power"
     },
     {
      "value": "personal-data",
      "text": "personal data inside the records"
     },
     {
      "value": "governance",
      "text": "the directors' or stockholders' say"
     }
    ]
   },
   {
    "id": "effect",
    "label": "What it does to a sale",
    "counts": {
     "conditions": 6,
     "prohibits": 4,
     "protects": 1,
     "varies": 3
    },
    "values": [
     {
      "value": "conditions",
      "text": "sets conditions the seller must meet"
     },
     {
      "value": "prohibits",
      "text": "prohibits a kind of transaction"
     },
     {
      "value": "protects",
      "text": "gives the owner a right to enforce"
     }
    ]
   },
   {
    "id": "enforced_by",
    "label": "Who enforces it",
    "counts": {
     "not-stated": 10,
     "stated": 4
    },
    "values": [
     {
      "value": "stated",
      "text": "stated"
     }
    ],
    "clause": true
   }
  ],
  "lead": {
   "type": "share",
   "field": "effect",
   "value": "conditions",
   "n": 6,
   "of": 14,
   "label": "Rules that set conditions on a sale"
  },
  "vendors": [
   {
    "name": "California Consumer Privacy Act",
    "answers": {
     "concern": {
      "value": "personal-data",
      "text": "personal data inside the records",
      "documents": [
       {
        "document": "Civil Code 1798.140, definitions",
        "url": "https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CIV&sectionNum=1798.140",
        "value": "personal-data",
        "quote": "a consumer’s personal information by the business to a third party for monetary or other valuable consideration."
       }
      ]
     },
     "effect": {
      "value": "conditions",
      "text": "sets conditions the seller must meet",
      "documents": [
       {
        "document": "Civil Code 1798.140, definitions",
        "url": "https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CIV&sectionNum=1798.140",
        "value": "conditions",
        "quote": "“Sell,” “selling,” “sale,” or “sold,’’ means selling, renting, releasing, disclosing, disseminating, making available, transferring"
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Civil Code 1798.140, definitions",
        "url": "https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CIV&sectionNum=1798.140",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "Companies Act 2006 (UK)",
    "answers": {
     "concern": {
      "value": "governance",
      "text": "the directors' or stockholders' say",
      "documents": [
       {
        "document": "Section 172, duty to promote the success of the company",
        "url": "https://www.legislation.gov.uk/ukpga/2006/46/section/172",
        "value": "governance",
        "quote": "would be most likely to promote the success of the company for the benefit of its members as a whole"
       }
      ]
     },
     "effect": {
      "value": "conditions",
      "text": "sets conditions the seller must meet",
      "documents": [
       {
        "document": "Section 172, duty to promote the success of the company",
        "url": "https://www.legislation.gov.uk/ukpga/2006/46/section/172",
        "value": "conditions",
        "quote": "A director of a company must act in the way he considers, in good faith"
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Section 172, duty to promote the success of the company",
        "url": "https://www.legislation.gov.uk/ukpga/2006/46/section/172",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "Competition Act 1998 (UK)",
    "answers": {
     "concern": {
      "value": "competition",
      "text": "agreements that restrict competition",
      "documents": [
       {
        "document": "Section 2, the Chapter I prohibition",
        "url": "https://www.legislation.gov.uk/ukpga/1998/41/section/2",
        "value": "competition",
        "quote": "concerted practices which have as their object or effect the prevention, restriction or distortion of competition within the United Kingdom"
       }
      ]
     },
     "effect": {
      "value": "prohibits",
      "text": "prohibits a kind of transaction",
      "documents": [
       {
        "document": "Section 2, the Chapter I prohibition",
        "url": "https://www.legislation.gov.uk/ukpga/1998/41/section/2",
        "value": "prohibits",
        "quote": "Any agreement or decision which is prohibited by subsection (1) is void."
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Section 2, the Chapter I prohibition",
        "url": "https://www.legislation.gov.uk/ukpga/1998/41/section/2",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "Copyright and Rights in Databases Regulations 1997 (UK)",
    "answers": {
     "concern": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Regulation 13, database right",
        "url": "https://www.legislation.gov.uk/uksi/1997/3032/regulation/13",
        "value": "not-stated",
        "quote": ""
       }
      ]
     },
     "effect": {
      "value": "protects",
      "text": "gives the owner a right to enforce",
      "documents": [
       {
        "document": "Regulation 13, database right",
        "url": "https://www.legislation.gov.uk/uksi/1997/3032/regulation/13",
        "value": "protects",
        "quote": "A property right (“database right”) subsists, in accordance with this Part, in a database if there has been a substantial investment in obtaining, verifying or presenting the contents of the database."
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Regulation 13, database right",
        "url": "https://www.legislation.gov.uk/uksi/1997/3032/regulation/13",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "Defend Trade Secrets Act (US)",
    "answers": {
     "concern": {
      "value": "secrecy",
      "text": "information kept secret for its value",
      "documents": [
       {
        "document": "18 U.S.C. 1839, definitions",
        "url": "https://www.law.cornell.edu/uscode/text/18/1839",
        "value": "secrecy",
        "quote": "thereof has taken reasonable measures to keep such information secret; and"
       },
       {
        "document": "18 U.S.C. 1836, civil proceedings",
        "url": "https://www.law.cornell.edu/uscode/text/18/1836",
        "value": "not-stated",
        "quote": ""
       }
      ]
     },
     "effect": {
      "value": "varies",
      "text": "varies by document",
      "documents": [
       {
        "document": "18 U.S.C. 1839, definitions",
        "url": "https://www.law.cornell.edu/uscode/text/18/1839",
        "value": "conditions",
        "quote": "the information derives independent economic value, actual or potential, from not being generally known to"
       },
       {
        "document": "18 U.S.C. 1836, civil proceedings",
        "url": "https://www.law.cornell.edu/uscode/text/18/1836",
        "value": "protects",
        "quote": "that is misappropriated may bring a civil action under this subsection if the"
       }
      ]
     },
     "enforced_by": {
      "value": "stated",
      "text": "in exceptional circumstances that render an injunction inequitable, that conditions…",
      "documents": [
       {
        "document": "18 U.S.C. 1839, definitions",
        "url": "https://www.law.cornell.edu/uscode/text/18/1839",
        "value": "not-stated",
        "quote": ""
       },
       {
        "document": "18 U.S.C. 1836, civil proceedings",
        "url": "https://www.law.cornell.edu/uscode/text/18/1836",
        "value": "stated",
        "quote": "in exceptional circumstances that render an injunction inequitable, that conditions future use of the"
       }
      ]
     }
    }
   },
   {
    "name": "Delaware General Corporation Law",
    "answers": {
     "concern": {
      "value": "governance",
      "text": "the directors' or stockholders' say",
      "documents": [
       {
        "document": "Section 271, sale of assets",
        "url": "https://delcode.delaware.gov/title8/c001/sc10/index.html",
        "value": "governance",
        "quote": "when and as authorized by a resolution adopted by the holders of a majority of the outstanding stock of the corporation entitled to vote thereon"
       }
      ]
     },
     "effect": {
      "value": "conditions",
      "text": "sets conditions the seller must meet",
      "documents": [
       {
        "document": "Section 271, sale of assets",
        "url": "https://delcode.delaware.gov/title8/c001/sc10/index.html",
        "value": "conditions",
        "quote": "sell, lease or exchange all or substantially all of its property and assets, including its goodwill and its corporate franchises"
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Section 271, sale of assets",
        "url": "https://delcode.delaware.gov/title8/c001/sc10/index.html",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "DOJ Data Security Program (US)",
    "answers": {
     "concern": {
      "value": "national-security",
      "text": "data or assets reaching a foreign power",
      "documents": [
       {
        "document": "National Security Division, Data Security Program",
        "url": "https://www.justice.gov/nsd/data-security",
        "value": "national-security",
        "quote": "The Data Security Program addresses the national-security risks posed by the continued efforts of foreign adversaries to use commercial activities to access and exploit U.S. Government-related data and Americans’ bulk sensitive personal data."
       },
       {
        "document": "28 CFR Part 202",
        "url": "https://www.law.cornell.edu/cfr/text/28/part-202",
        "value": "not-stated",
        "quote": ""
       }
      ]
     },
     "effect": {
      "value": "varies",
      "text": "varies by document",
      "documents": [
       {
        "document": "National Security Division, Data Security Program",
        "url": "https://www.justice.gov/nsd/data-security",
        "value": "conditions",
        "quote": "with certain affirmative requirements regarding due diligence and audits for restricted transactions (subpart J)"
       },
       {
        "document": "28 CFR Part 202",
        "url": "https://www.law.cornell.edu/cfr/text/28/part-202",
        "value": "prohibits",
        "quote": "Subpart C—Prohibited Transactions and Related Activities (§§ 202.301 - 202.305)"
       }
      ]
     },
     "enforced_by": {
      "value": "stated",
      "text": "On December 26, 2024, the Department’s National Security Division issued a final rule to…",
      "documents": [
       {
        "document": "National Security Division, Data Security Program",
        "url": "https://www.justice.gov/nsd/data-security",
        "value": "stated",
        "quote": "On December 26, 2024, the Department’s National Security Division issued a final rule to implement Executive Order 14117."
       },
       {
        "document": "28 CFR Part 202",
        "url": "https://www.law.cornell.edu/cfr/text/28/part-202",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "National Security and Investment Act 2021 (UK)",
    "answers": {
     "concern": {
      "value": "national-security",
      "text": "data or assets reaching a foreign power",
      "documents": [
       {
        "document": "Section 7, qualifying entities and assets",
        "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/7",
        "value": "national-security",
        "quote": "ideas, information or techniques which have industrial, commercial or other economic value."
       },
       {
        "document": "Section 14, mandatory notification",
        "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/14",
        "value": "not-stated",
        "quote": ""
       }
      ]
     },
     "effect": {
      "value": "conditions",
      "text": "sets conditions the seller must meet",
      "documents": [
       {
        "document": "Section 7, qualifying entities and assets",
        "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/7",
        "value": "not-stated",
        "quote": ""
       },
       {
        "document": "Section 14, mandatory notification",
        "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/14",
        "value": "conditions",
        "quote": "a person must give notice to the Secretary of State before the person, pursuant to a notifiable acquisition, gains control in circumstances falling within section 6(2)."
       }
      ]
     },
     "enforced_by": {
      "value": "stated",
      "text": "The Secretary of State may by regulations prescribe the form and content of a mandatory…",
      "documents": [
       {
        "document": "Section 7, qualifying entities and assets",
        "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/7",
        "value": "not-stated",
        "quote": ""
       },
       {
        "document": "Section 14, mandatory notification",
        "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/14",
        "value": "stated",
        "quote": "The Secretary of State may by regulations prescribe the form and content of a mandatory notice."
       }
      ]
     }
    }
   },
   {
    "name": "Protecting Americans' Data from Foreign Adversaries Act (US)",
    "answers": {
     "concern": {
      "value": "national-security",
      "text": "data or assets reaching a foreign power",
      "documents": [
       {
        "document": "15 U.S.C. 9901",
        "url": "https://www.law.cornell.edu/uscode/text/15/9901",
        "value": "national-security",
        "quote": "It shall be unlawful for a data broker to sell, license, rent, trade, transfer, release, disclose, provide access to, or otherwise make available personally identifiable sensitive data of a United States individual to"
       }
      ]
     },
     "effect": {
      "value": "prohibits",
      "text": "prohibits a kind of transaction",
      "documents": [
       {
        "document": "15 U.S.C. 9901",
        "url": "https://www.law.cornell.edu/uscode/text/15/9901",
        "value": "prohibits",
        "quote": "any entity that is controlled by a foreign adversary."
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "15 U.S.C. 9901",
        "url": "https://www.law.cornell.edu/uscode/text/15/9901",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "Regulation FD (US)",
    "answers": {
     "concern": {
      "value": "market-fairness",
      "text": "price-sensitive information disclosed selectively",
      "documents": [
       {
        "document": "17 CFR 243.100, general rule",
        "url": "https://www.law.cornell.edu/cfr/text/17/243.100",
        "value": "market-fairness",
        "quote": "discloses any material nonpublic information regarding that issuer or its securities to any person described in paragraph (b)(1) of this section"
       },
       {
        "document": "17 CFR 243.101, definitions",
        "url": "https://www.law.cornell.edu/cfr/text/17/243.101",
        "value": "market-fairness",
        "quote": "A selective disclosure of material nonpublic information is “intentional” when the person making the disclosure either knows"
       }
      ]
     },
     "effect": {
      "value": "conditions",
      "text": "sets conditions the seller must meet",
      "documents": [
       {
        "document": "17 CFR 243.100, general rule",
        "url": "https://www.law.cornell.edu/cfr/text/17/243.100",
        "value": "conditions",
        "quote": "the issuer shall make public disclosure of that information as provided in § 243.101(e):"
       },
       {
        "document": "17 CFR 243.101, definitions",
        "url": "https://www.law.cornell.edu/cfr/text/17/243.101",
        "value": "conditions",
        "quote": "“Promptly” means as soon as reasonably practicable (but in no event after the later of 24 hours or the commencement of the next day's trading on the New York Stock Exchange)"
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "17 CFR 243.100, general rule",
        "url": "https://www.law.cornell.edu/cfr/text/17/243.100",
        "value": "not-stated",
        "quote": ""
       },
       {
        "document": "17 CFR 243.101, definitions",
        "url": "https://www.law.cornell.edu/cfr/text/17/243.101",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "Sherman Act (US)",
    "answers": {
     "concern": {
      "value": "competition",
      "text": "agreements that restrict competition",
      "documents": [
       {
        "document": "15 U.S.C. 1",
        "url": "https://www.law.cornell.edu/uscode/text/15/1",
        "value": "competition",
        "quote": "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States"
       }
      ]
     },
     "effect": {
      "value": "prohibits",
      "text": "prohibits a kind of transaction",
      "documents": [
       {
        "document": "15 U.S.C. 1",
        "url": "https://www.law.cornell.edu/uscode/text/15/1",
        "value": "prohibits",
        "quote": "in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal"
       }
      ]
     },
     "enforced_by": {
      "value": "stated",
      "text": "shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine",
      "documents": [
       {
        "document": "15 U.S.C. 1",
        "url": "https://www.law.cornell.edu/uscode/text/15/1",
        "value": "stated",
        "quote": "shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine"
       }
      ]
     }
    }
   },
   {
    "name": "Trade Secrets (Enforcement, etc.) Regulations 2018 (UK)",
    "answers": {
     "concern": {
      "value": "secrecy",
      "text": "information kept secret for its value",
      "documents": [
       {
        "document": "Regulation 2, interpretation",
        "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/2",
        "value": "secrecy",
        "quote": "has commercial value because it is secret, and"
       },
       {
        "document": "Regulation 3, unlawful acquisition, use or disclosure",
        "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/3",
        "value": "not-stated",
        "quote": ""
       }
      ]
     },
     "effect": {
      "value": "varies",
      "text": "varies by document",
      "documents": [
       {
        "document": "Regulation 2, interpretation",
        "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/2",
        "value": "conditions",
        "quote": "is secret in the sense that it is not, as a body or in the precise configuration and assembly of its components, generally known among"
       },
       {
        "document": "Regulation 3, unlawful acquisition, use or disclosure",
        "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/3",
        "value": "protects",
        "quote": "The acquisition, use or disclosure of a trade secret is unlawful where the acquisition, use or disclosure constitutes a breach of confidence in confidential information."
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Regulation 2, interpretation",
        "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/2",
        "value": "not-stated",
        "quote": ""
       },
       {
        "document": "Regulation 3, unlawful acquisition, use or disclosure",
        "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/3",
        "value": "not-stated",
        "quote": ""
       }
      ]
     }
    }
   },
   {
    "name": "UK GDPR",
    "answers": {
     "concern": {
      "value": "personal-data",
      "text": "personal data inside the records",
      "documents": [
       {
        "document": "Article 28, processor",
        "url": "https://www.legislation.gov.uk/eur/2016/679/article/28",
        "value": "personal-data",
        "quote": "processes the personal data only on documented instructions from the controller"
       }
      ]
     },
     "effect": {
      "value": "conditions",
      "text": "sets conditions the seller must meet",
      "documents": [
       {
        "document": "Article 28, processor",
        "url": "https://www.legislation.gov.uk/eur/2016/679/article/28",
        "value": "conditions",
        "quote": "Processing by a processor shall be governed by a contract or other legal act under"
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Article 28, processor",
        "url": "https://www.legislation.gov.uk/eur/2016/679/article/28",
        "value": "not-stated",
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      ]
     }
    }
   },
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        "document": "Article 7, inside information",
        "url": "https://www.legislation.gov.uk/eur/2014/596/article/7",
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        "value": "not-stated",
        "quote": ""
       },
       {
        "document": "Article 10, unlawful disclosure of inside information",
        "url": "https://www.legislation.gov.uk/eur/2014/596/article/10",
        "value": "prohibits",
        "quote": "except where the disclosure is made in the normal exercise of an employment, a profession or duties."
       }
      ]
     },
     "enforced_by": {
      "value": "not-stated",
      "text": "not stated",
      "documents": [
       {
        "document": "Article 7, inside information",
        "url": "https://www.legislation.gov.uk/eur/2014/596/article/7",
        "value": "not-stated",
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       {
        "document": "Article 10, unlawful disclosure of inside information",
        "url": "https://www.legislation.gov.uk/eur/2014/596/article/10",
        "value": "not-stated",
        "quote": ""
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   "text_sha256": "dcc6b4761d410727d52c6189143c2e963166c51c13f1c8ffb8d5bd3891a8197a"
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   "quote": "The Data Security Program addresses the national-security risks posed by the continued efforts of foreign adversaries to use commercial activities to access and exploit U.S. Government-related data and Americans’ bulk sensitive personal data.",
   "text_sha256": "220e1fd376957e80209f1ae017d9d98c1e8aa4efb488a3fbfa78fea03cb2fa76"
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   "quote": "with certain affirmative requirements regarding due diligence and audits for restricted transactions (subpart J)",
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   "quote": "Subpart C—Prohibited Transactions and Related Activities (§§ 202.301 - 202.305)",
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   "text_sha256": "9c752a79c70ee9c9543055aee164b7ebb3a4b05bc1956729315f43c632c850de"
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   "answer_text": "prohibits a kind of transaction",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "any entity that is controlled by a foreign adversary.",
   "text_sha256": "d17755bb68c5d7da92a8865ed444fbb099a5a6b7e7678d378b88850b7a10a1bf"
  },
  {
   "subject": "Protecting Americans' Data from Foreign Adversaries Act (US)",
   "url": "https://www.law.cornell.edu/uscode/text/15/9901",
   "document": "15 U.S.C. 9901",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-28",
   "quote": "Left open by the text (8,270 characters, read in full 2026-10-28).",
   "text_sha256": "d17755bb68c5d7da92a8865ed444fbb099a5a6b7e7678d378b88850b7a10a1bf"
  },
  {
   "subject": "Regulation FD (US)",
   "url": "https://www.law.cornell.edu/cfr/text/17/243.100",
   "document": "17 CFR 243.100, general rule",
   "question": "concern",
   "answer": "market-fairness",
   "answer_text": "price-sensitive information disclosed selectively",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "discloses any material nonpublic information regarding that issuer or its securities to any person described in paragraph (b)(1) of this section",
   "text_sha256": "4fea466b8410014101577020cc1f81df2faf8faf3a9e365af96bf3f91093edfa"
  },
  {
   "subject": "Regulation FD (US)",
   "url": "https://www.law.cornell.edu/cfr/text/17/243.100",
   "document": "17 CFR 243.100, general rule",
   "question": "effect",
   "answer": "conditions",
   "answer_text": "sets conditions the seller must meet",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "the issuer shall make public disclosure of that information as provided in § 243.101(e):",
   "text_sha256": "4fea466b8410014101577020cc1f81df2faf8faf3a9e365af96bf3f91093edfa"
  },
  {
   "subject": "Regulation FD (US)",
   "url": "https://www.law.cornell.edu/cfr/text/17/243.100",
   "document": "17 CFR 243.100, general rule",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-28",
   "quote": "Left open by the text (5,170 characters, read in full 2026-10-28).",
   "text_sha256": "4fea466b8410014101577020cc1f81df2faf8faf3a9e365af96bf3f91093edfa"
  },
  {
   "subject": "Regulation FD (US)",
   "url": "https://www.law.cornell.edu/cfr/text/17/243.101",
   "document": "17 CFR 243.101, definitions",
   "question": "concern",
   "answer": "market-fairness",
   "answer_text": "price-sensitive information disclosed selectively",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "A selective disclosure of material nonpublic information is “intentional” when the person making the disclosure either knows",
   "text_sha256": "040569d681340c814efb74a53a100b37a6f55938c3760b95ee41e69c9c89a51c"
  },
  {
   "subject": "Regulation FD (US)",
   "url": "https://www.law.cornell.edu/cfr/text/17/243.101",
   "document": "17 CFR 243.101, definitions",
   "question": "effect",
   "answer": "conditions",
   "answer_text": "sets conditions the seller must meet",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "“Promptly” means as soon as reasonably practicable (but in no event after the later of 24 hours or the commencement of the next day's trading on the New York Stock Exchange)",
   "text_sha256": "040569d681340c814efb74a53a100b37a6f55938c3760b95ee41e69c9c89a51c"
  },
  {
   "subject": "Regulation FD (US)",
   "url": "https://www.law.cornell.edu/cfr/text/17/243.101",
   "document": "17 CFR 243.101, definitions",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-28",
   "quote": "Left open by the text (5,120 characters, read in full 2026-10-28).",
   "text_sha256": "040569d681340c814efb74a53a100b37a6f55938c3760b95ee41e69c9c89a51c"
  },
  {
   "subject": "Sherman Act (US)",
   "url": "https://www.law.cornell.edu/uscode/text/15/1",
   "document": "15 U.S.C. 1",
   "question": "concern",
   "answer": "competition",
   "answer_text": "agreements that restrict competition",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States",
   "text_sha256": "e1d70c117d4bb53952938e35e4870a95f67190c2241c205ac9a37342c56183fe"
  },
  {
   "subject": "Sherman Act (US)",
   "url": "https://www.law.cornell.edu/uscode/text/15/1",
   "document": "15 U.S.C. 1",
   "question": "effect",
   "answer": "prohibits",
   "answer_text": "prohibits a kind of transaction",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal",
   "text_sha256": "e1d70c117d4bb53952938e35e4870a95f67190c2241c205ac9a37342c56183fe"
  },
  {
   "subject": "Sherman Act (US)",
   "url": "https://www.law.cornell.edu/uscode/text/15/1",
   "document": "15 U.S.C. 1",
   "question": "enforced_by",
   "answer": "stated",
   "answer_text": "shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine",
   "text_sha256": "e1d70c117d4bb53952938e35e4870a95f67190c2241c205ac9a37342c56183fe"
  },
  {
   "subject": "Trade Secrets (Enforcement, etc.) Regulations 2018 (UK)",
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/2",
   "document": "Regulation 2, interpretation",
   "question": "concern",
   "answer": "secrecy",
   "answer_text": "information kept secret for its value",
   "status": "stated",
   "retrieved_at": "2026-10-27",
   "quote": "has commercial value because it is secret, and",
   "text_sha256": "f48636f6a77d625e11058cd33c1127d67d64545485c2295d73266b17b2199798"
  },
  {
   "subject": "Trade Secrets (Enforcement, etc.) Regulations 2018 (UK)",
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/2",
   "document": "Regulation 2, interpretation",
   "question": "effect",
   "answer": "conditions",
   "answer_text": "sets conditions the seller must meet",
   "status": "stated",
   "retrieved_at": "2026-10-27",
   "quote": "is secret in the sense that it is not, as a body or in the precise configuration and assembly of its components, generally known among",
   "text_sha256": "f48636f6a77d625e11058cd33c1127d67d64545485c2295d73266b17b2199798"
  },
  {
   "subject": "Trade Secrets (Enforcement, etc.) Regulations 2018 (UK)",
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/2",
   "document": "Regulation 2, interpretation",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-27",
   "quote": "Left open by the text (5,695 characters, read in full 2026-10-27).",
   "text_sha256": "f48636f6a77d625e11058cd33c1127d67d64545485c2295d73266b17b2199798"
  },
  {
   "subject": "Trade Secrets (Enforcement, etc.) Regulations 2018 (UK)",
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/3",
   "document": "Regulation 3, unlawful acquisition, use or disclosure",
   "question": "concern",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-08",
   "quote": "Left open by the text (10,589 characters, read in full 2026-10-08).",
   "text_sha256": "c04c3d3b761eb6cec758b47bf033c5016452e3101f9d872cae5f7d469d380820"
  },
  {
   "subject": "Trade Secrets (Enforcement, etc.) Regulations 2018 (UK)",
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/3",
   "document": "Regulation 3, unlawful acquisition, use or disclosure",
   "question": "effect",
   "answer": "protects",
   "answer_text": "gives the owner a right to enforce",
   "status": "stated",
   "retrieved_at": "2026-10-08",
   "quote": "The acquisition, use or disclosure of a trade secret is unlawful where the acquisition, use or disclosure constitutes a breach of confidence in confidential information.",
   "text_sha256": "c04c3d3b761eb6cec758b47bf033c5016452e3101f9d872cae5f7d469d380820"
  },
  {
   "subject": "Trade Secrets (Enforcement, etc.) Regulations 2018 (UK)",
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/3",
   "document": "Regulation 3, unlawful acquisition, use or disclosure",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-08",
   "quote": "Left open by the text (10,589 characters, read in full 2026-10-08).",
   "text_sha256": "c04c3d3b761eb6cec758b47bf033c5016452e3101f9d872cae5f7d469d380820"
  },
  {
   "subject": "UK GDPR",
   "url": "https://www.legislation.gov.uk/eur/2016/679/article/28",
   "document": "Article 28, processor",
   "question": "concern",
   "answer": "personal-data",
   "answer_text": "personal data inside the records",
   "status": "stated",
   "retrieved_at": "2026-10-08",
   "quote": "processes the personal data only on documented instructions from the controller",
   "text_sha256": "2bead00aa5784bcff134385ba4dccb11afb8357f302bfb1923741d63067b5e1d"
  },
  {
   "subject": "UK GDPR",
   "url": "https://www.legislation.gov.uk/eur/2016/679/article/28",
   "document": "Article 28, processor",
   "question": "effect",
   "answer": "conditions",
   "answer_text": "sets conditions the seller must meet",
   "status": "stated",
   "retrieved_at": "2026-10-08",
   "quote": "Processing by a processor shall be governed by a contract or other legal act under",
   "text_sha256": "2bead00aa5784bcff134385ba4dccb11afb8357f302bfb1923741d63067b5e1d"
  },
  {
   "subject": "UK GDPR",
   "url": "https://www.legislation.gov.uk/eur/2016/679/article/28",
   "document": "Article 28, processor",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-08",
   "quote": "Left open by the text (12,826 characters, read in full 2026-10-08).",
   "text_sha256": "2bead00aa5784bcff134385ba4dccb11afb8357f302bfb1923741d63067b5e1d"
  },
  {
   "subject": "UK Market Abuse Regulation",
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/10",
   "document": "Article 10, unlawful disclosure of inside information",
   "question": "concern",
   "answer": "market-fairness",
   "answer_text": "price-sensitive information disclosed selectively",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "unlawful disclosure of inside information arises where a person possesses inside information and discloses that information to any other person",
   "text_sha256": "b5fb27043b635cdad2468581a79457ebb0ffb770115bf321c91c51d2f3b28c98"
  },
  {
   "subject": "UK Market Abuse Regulation",
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/10",
   "document": "Article 10, unlawful disclosure of inside information",
   "question": "effect",
   "answer": "prohibits",
   "answer_text": "prohibits a kind of transaction",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "except where the disclosure is made in the normal exercise of an employment, a profession or duties.",
   "text_sha256": "b5fb27043b635cdad2468581a79457ebb0ffb770115bf321c91c51d2f3b28c98"
  },
  {
   "subject": "UK Market Abuse Regulation",
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/10",
   "document": "Article 10, unlawful disclosure of inside information",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-28",
   "quote": "Left open by the text (5,839 characters, read in full 2026-10-28).",
   "text_sha256": "b5fb27043b635cdad2468581a79457ebb0ffb770115bf321c91c51d2f3b28c98"
  },
  {
   "subject": "UK Market Abuse Regulation",
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/7",
   "document": "Article 7, inside information",
   "question": "concern",
   "answer": "market-fairness",
   "answer_text": "price-sensitive information disclosed selectively",
   "status": "stated",
   "retrieved_at": "2026-10-28",
   "quote": "information of a precise nature, which has not been made public, relating, directly or indirectly, to one or more issuers or to one or more financial instruments",
   "text_sha256": "6ef68894379764a0d977c8e487bcab4f31641cca7df75c17045d780ae92fabc7"
  },
  {
   "subject": "UK Market Abuse Regulation",
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/7",
   "document": "Article 7, inside information",
   "question": "effect",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-28",
   "quote": "Left open by the text (12,188 characters, read in full 2026-10-28).",
   "text_sha256": "6ef68894379764a0d977c8e487bcab4f31641cca7df75c17045d780ae92fabc7"
  },
  {
   "subject": "UK Market Abuse Regulation",
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/7",
   "document": "Article 7, inside information",
   "question": "enforced_by",
   "answer": "not-stated",
   "answer_text": "not stated",
   "status": "not-stated",
   "retrieved_at": "2026-10-28",
   "quote": "Left open by the text (12,188 characters, read in full 2026-10-28).",
   "text_sha256": "6ef68894379764a0d977c8e487bcab4f31641cca7df75c17045d780ae92fabc7"
  }
 ],
 "sources": [
  {
   "url": "https://www.law.cornell.edu/uscode/text/18/1839",
   "label": "18 U.S.C. 1839 (trade secret definitions)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.law.cornell.edu/uscode/text/18/1836",
   "label": "18 U.S.C. 1836 (civil action for trade secret misappropriation)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/2",
   "label": "Trade Secrets (Enforcement, etc.) Regulations 2018, reg. 2",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/uksi/2018/597/regulation/3",
   "label": "Trade Secrets (Enforcement, etc.) Regulations 2018, reg. 3",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.law.cornell.edu/cfr/text/17/243.100",
   "label": "17 CFR 243.100 (Regulation FD)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.law.cornell.edu/cfr/text/17/243.101",
   "label": "17 CFR 243.101 (Regulation FD definitions)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/7",
   "label": "UK Market Abuse Regulation, art. 7 (inside information)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/eur/2014/596/article/10",
   "label": "UK Market Abuse Regulation, art. 10 (unlawful disclosure)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.law.cornell.edu/uscode/text/15/1",
   "label": "15 U.S.C. 1 (Sherman Act section 1)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/ukpga/1998/41/section/2",
   "label": "Competition Act 1998, s. 2 (the Chapter I prohibition)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/7",
   "label": "National Security and Investment Act 2021, s. 7 (qualifying entities and assets)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/ukpga/2021/25/section/14",
   "label": "National Security and Investment Act 2021, s. 14 (mandatory notification)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.justice.gov/nsd/data-security",
   "label": "DOJ National Security Division, Data Security Program",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.law.cornell.edu/cfr/text/28/part-202",
   "label": "28 CFR Part 202 (access to US sensitive personal data by countries of concern)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.law.cornell.edu/uscode/text/15/9901",
   "label": "15 U.S.C. 9901 (Protecting Americans' Data from Foreign Adversaries Act)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CIV&sectionNum=1798.140",
   "label": "California Civil Code 1798.140 (CCPA definitions)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/eur/2016/679/article/28",
   "label": "UK GDPR, art. 28 (processor)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/uksi/1997/3032/regulation/13",
   "label": "Copyright and Rights in Databases Regulations 1997, reg. 13 (database right)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/ukpga/2006/46/section/172",
   "label": "Companies Act 2006, s. 172 (duty to promote the success of the company)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://delcode.delaware.gov/title8/c001/sc10/index.html",
   "label": "Delaware General Corporation Law, subchapter X (sale of assets, s. 271)",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "read"
  },
  {
   "url": "https://www.legislation.gov.uk/uksi/2018/597/contents",
   "label": "the universe, rule 1",
   "license": "quoted for reporting from the publisher's the statutes and regulators' own texts in GB and the US",
   "class": "primary-government",
   "status": "unread"
  }
 ],
 "methodology": "Each instrument's own the statutes and regulators' own texts in GB and the US were read through estate-fetch and stored whole (sha256 on every row). For every text, three questions were answered from its own words: what the rule guards, what it does to a sale, who enforces it. Every stated answer carries the sentence it rests on, checked against the stored text; 'not stated' means the text read does not address the question. A instrument with several texts reads 'varies' where they disagree. 14 instruments, 20 texts.",
 "embed": "<figure style=\"margin:0;padding:16px;border:1px solid #d0d0d0;background:#ffffff\"><blockquote style=\"margin:0 0 8px;background:#ffffff\">6 of 14 legal texts read in GB and the US set conditions a company must meet before licensing its operating data, newest read 28 October 2026.</blockquote><figcaption style=\"background:#ffffff\"><a href=\"https://sellenterprisedatatoai.com/datasets/enterprise-data-sale-rules/\" style=\"background:#ffffff\">The rules a large company's data sale turns on, sellenterprisedatatoai.com</a></figcaption></figure>"
}