Question

Why should large international companies based outside of Europe be concerned with GDPR today?

1) To get positive press by voluntarily complying with the standard.
2) Because you may be sued by your customers.
3) They still can be fined even if they are not a European based company.
4) Because many countries may adopt policies like GDPR in the future.
5) They should not as it only applies to EU citizens.

Answer 1

Large international companies based outside of Europe should be concerned with GDPR today for several reasons, including getting positive press, legal implications, and future policies.

Step-by-step explanation:

Large international companies based outside of Europe should be concerned with GDPR today for several reasons:

1. To get positive press: By voluntarily complying with the GDPR standards, companies can demonstrate their commitment to data protection and privacy, which can earn them positive publicity and enhance their reputation.
2. Legal implications: Even if a company is not based in Europe, it may still be subject to GDPR fines and legal actions if it processes data of EU citizens. GDPR has extraterritorial reach, meaning that any company that collects or processes personal data of EU citizens, regardless of their location, must comply with GDPR requirements.
3. Future policies: Many countries may adopt policies similar to GDPR in the future as data privacy becomes a growing concern worldwide. By proactively complying with GDPR, companies are better prepared for potential future regulations.