Hungarian Watch Autumn 2018
Hungarian Watch editions
A Hungarian software offers GDPR compliance solutions
Interview with János Tamás Varga, head of VJT & Partners
GDPR is and will remain a hot topic for every business in the EU. VJT & Partners closely worked with the consulting software developer company Simplexxy to develop the “Data Hawk” (“Adatsólyom” in Hungarian) software. Based on its installed know-how, Data Hawk screens the data processing of the companies and makes proposals on an automated basis, without any human intervention. This revolutionary law-tech solution has never been seen before. The mid-term plan is to launch Data Hawk in other Member States also.
Turbulent times in Hungarian privacy world
Hungary finally adopted national GDPR implementation legislation
After a long uncertainty, the Hungarian Parliament finally adopted the first national GDPR implementation package. Has it cleared up everything? May businesses focus now on other non-privacy challenges in these turbulent times? It seems rather unlikely. In this transition period, businesses will continue to face GDPR related challenges for a long time, and the booming demand for highly qualified privacy experts may just be on the rise.
New rules of game for non-EU investors
Hungarian bill on screening foreign direct investments
A Hungarian draft bill proposed screening of foreign acquisitions by non-EU investors in strategic Hungarian sectors (such as energy, finance, telecommunication, military technology). If the draft bill is approved by the Hungarian Parliament, it may become effective already in October 2018. Since future and currently negotiated transactions might be affected, non-EU investors need to keep a close eye on it.
It’s time to revise the trade secret protection strategy!
New trade secret regulations came to Hungary
Hungary adopted the long-awaited regulation. The Trade Secret Act is here, making the trade secrets protection more efficient. It is time to revise the trade secret protection strategy.