Is it possible to sell data?

Is it possible to sell data?

It is certainly possible to sell data. However, the interpretation of such a purchase agreement is not self-evident. In principle, the parties are free to determine the conditions under which the data is sold. Please note the following:

1. Not all data may simply be transferred to other parties. In the case of personal data, you must ensure the confidentiality of that data.
2. In what way is the data "sold"? Can the seller keep the data, or should it be deleted? Or will a database be used, giving the buyer access to the data? Make sure this is well defined in the agreement.
3. When has a party fulfilled its obligations? Leave no ambiguity about this.
4. How will the data be transferred? On a physical carrier such as a hard drive or USB stick? Or digitally via another service such as OneDrive?
5. What happens to new data collected by the selling party?
6. How are errors in the dataset handled and resolved? Who is responsible for this?
7. What can the recipient expect from the quality and quantity of the data?

To avoid problems and ambiguities, it is recommended to make clear agreements and accurately record them in a contract.