The Crucial Role of Written Change Orders in Construction Contracts

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The Importance of GDPR Compliance
GDPR is a regulation that was implemented by the European Union to protect the personal data of individuals. While it technically only applies to EU businesses, any organization that handles EU citizen data is still required to comply with its rules. Failure to do so can result in hefty fines, which could have serious financial implications for US companies.
Legal Implications of Data Breaches
One of the key aspects of GDPR is the requirement for businesses to report data breaches within 72 hours of becoming aware of them. Failure to do so can result in fines of up to 4% of a company's annual global turnover or €20 million, whichever is greater. This means that US businesses need to have mechanisms in place to detect and report breaches in a timely manner to avoid these penalties.
Benefits of GDPR Compliance

Enhanced Data Security: By following GDPR guidelines, US businesses can improve their data security measures, reducing the risk of breaches and protecting sensitive information.
Increased Customer Trust: Demonstrating GDPR compliance can help businesses build trust with their customers, showing that they take data protection seriously and are committed to safeguarding their information.
Legal Compliance: By adhering to GDPR regulations, US businesses can avoid the hefty fines and legal consequences that come with non-compliance, ensuring they stay on the right side of the law.

Statistics on Data Breaches in the US
According to a report by the Identity Theft Resource Center, there were 1,244 reported data breaches in the United States in 2018, exposing over 446 million records. This highlights the growing threat posed by cybercriminals and the importance of implementing robust data protection measures.
GDPR compliance is crucial for US businesses that handle EU citizen data, as failure to comply can result in significant financial and legal repercussions. By taking the necessary steps to adhere to GDPR regulations, businesses can enhance their data security, build customer trust, and avoid costly penalties. It is essential for US companies to prioritize data protection and ensure they are prepared to handle any potential breaches in accordance with GDPR guidelines.
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