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Intercompany Data Sharing Agreement

Intercompany Data Sharing Agreement Template for United States

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Key Requirements PROMPT example:

Intercompany Data Sharing Agreement

"I need an Intercompany Data Sharing Agreement for transferring customer financial data between our US parent company and our Canadian subsidiary, with specific provisions for GLBA compliance and cross-border data transfers, to be effective from March 1, 2025."

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Document background
The Intercompany Data Sharing Agreement is essential when related corporate entities need to share sensitive or regulated data while maintaining compliance with applicable laws. This agreement becomes necessary when companies within the same corporate structure need to transfer, process, or access shared data resources. It provides a framework for ensuring data protection, defining responsibilities, and maintaining regulatory compliance across US federal and state jurisdictions, while also addressing international requirements where relevant.
Suggested Sections

1. Parties: Identification of data controller and processor entities, including full legal names and registered addresses

2. Background: Context and purpose of the data sharing arrangement between the parties

3. Definitions: Key terms including Personal Data, Processing, Data Subject, Controller, Processor, and other relevant terminology

4. Scope of Data Sharing: Detailed description of types of data to be shared, purposes of sharing, and permitted processing activities

5. Data Protection Obligations: Security measures, compliance requirements, and data protection responsibilities of each party

6. Confidentiality: Obligations regarding confidentiality of shared data and trade secrets

7. Data Security: Technical and organizational measures required to protect the shared data

8. Breach Notification: Procedures and timelines for reporting data breaches or security incidents

9. Term and Termination: Duration of the agreement, renewal terms, and conditions for termination

10. Governing Law and Jurisdiction: Specification of applicable law and courts having jurisdiction over disputes

Optional Sections

1. Cross-Border Transfers: Provisions for international data transfers, including appropriate safeguards and compliance with transfer mechanisms

2. Industry-Specific Compliance: Additional requirements for regulated industries such as healthcare (HIPAA) or financial services (GLBA)

3. Data Subject Rights: Procedures for handling individual rights requests under GDPR, CCPA, or other applicable privacy laws

4. Subprocessing: Terms governing the appointment and oversight of subprocessors, if applicable

5. Audit Rights: Provisions for conducting audits and assessments of data processing activities

Suggested Schedules

1. Schedule A - Data Processing Details: Detailed description of processing activities, categories of data subjects, and types of personal data

2. Schedule B - Security Requirements: Specific technical and organizational security measures required by both parties

3. Schedule C - Transfer Mechanisms: Standard contractual clauses or other approved transfer mechanisms for cross-border data transfers

4. Schedule D - Contact Details: List of key contacts for data protection matters, including Data Protection Officers if applicable

5. Schedule E - Approved Subprocessors: List of approved subprocessors and their processing activities, if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Industries

GLBA: Gramm-Leach-Bliley Act - Federal law governing the protection and handling of financial data and consumer financial privacy

HIPAA: Health Insurance Portability and Accountability Act - Federal law regulating the protection of sensitive patient health information

FCRA: Fair Credit Reporting Act - Federal law governing the collection, dissemination, and use of consumer credit information

COPPA: Children's Online Privacy Protection Act - Federal law imposing requirements on operators of websites or online services directed to children under 13 years of age

FTCA: Federal Trade Commission Act - Federal law prohibiting unfair or deceptive practices in data handling and privacy

CCPA: California Consumer Privacy Act - California state law providing privacy rights and consumer protection for residents of California

SHIELD Act: Stop Hacks and Improve Electronic Data Security Act - New York state law requiring businesses to implement safeguards for private information of New York residents

Sarbanes-Oxley Act: Federal law establishing enhanced standards for corporate accountability and financial disclosure for public companies

FERPA: Family Educational Rights and Privacy Act - Federal law protecting the privacy of student education records

GDPR Compliance: General Data Protection Regulation considerations when handling data of EU residents, including cross-border data transfer requirements

State Data Breach Laws: Various state-specific requirements for notification and handling of data breaches affecting residents

State Privacy Laws: Various state-specific privacy laws including CCPA (California), CPRA (California), VCDPA (Virginia), CPA (Colorado)

SEC Requirements: Securities and Exchange Commission requirements for public companies regarding data protection and disclosure

Industry Standards: Relevant industry-specific standards and best practices for data protection and sharing

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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