Data licences

The rapid increase in use of technology throughout the whole of a building’s life cycle means that real estate businesses increasingly generate large amounts of valuable data. Whether it is generated by ‘smart’ tech or use of digital twins, this data holds significant value to those operating a real estate asset and other third parties.

This data is being increasingly used for commercial purposes, for example informing the development of new or improved products and services, understanding operational and maintenance requirements, or gaining greater insight into sources of competitive advantage. Service providers may also seek a right to use the data for the purpose of improving and enhancing their solutions. 

But access to data, and the use of data by any third parties, should be carefully controlled, both to maximise value and to ensure that it is shared in accordance with applicable legal, contractual, ethical and commercial concerns. Typically this is achieved through contracts and data licences. 

Businesses entering into contracts or licences will want to consider a number of questions when negotiating their terms and conditions, such as the following: