Your digital business: legal recommendations to secure your investment
13 September 2021
The digital transformation arrived to stay in the Dominican Republic; this innovative business model contributes to increase your business competitiveness and profitability.
Nowadays, many traditional companies decided to venture into the digital platform, as part of their business strategy. To implement a successful digital transformation, it is essential to consider several legal aspects that guarantee the money, time, and resources investment that this transformation entails.
To this end, here we share three legal recommendations that you can apply to your business, to protect your investment and mitigate potential legal risks:
Apply the requirements of the Data Protection Law The Dominican legislation contains rules that regulate the collection of personal data, as well as restrictions on the use of certain technologies or activities.
Therefore, if your business operates digitally and requires personal data from your users, you must ask for the user’s consent to collect and store their data, and clearly specify how you will use it, as well as the process to modify or delete it.
Establish strict cybersecurity measures It´s essential to establish a strict cybersecurity protocol that limits possible attacks and attempts to steal confidential information of your users, their bank details or their identity, or even your own company’s.
In order to do this, you must implement security measures -mainly on the information you collect- that mitigate all kinds of risks; as any failure can expose your company and, above all, the security of the information you keep about your users.
Avoid future infractions, protecting your intangible assets Verify that the intangible assets of your company are duly protected, such as your brands, trade name, slogans, as well as any invention, industrial design, or utility model.
In the digital world, those intangible assets are exposed to the risk of malicious third parties copying or imitating them. To prevent this, you must verify your intellectual property portfolio, investigate if the brand or creation does not interfere with the rights of a third party (and that they are duly registered and protected), register your intangible assets, and strengthen your intellectual property strategy.