Changes In EU Data Law: The GDPR Requirements And How To Meet Them04/01/2018 by Guest contributor for Intellectual Property Watch 1 CommentLinkilaw writes: Statistics show 69% of SME owners have heard about the General Data Protection Regulation (GDPR) and 70% admitted to being unaware it will come into effect from 25th May 2018. It is important for small business owners to understand what the GDPR is as well as its application. The GDPR is the outcome of four years of constant discussions, investigations, and amendments made by the EU to update its data privacy rules and regulations.The GDPR will replace the Data Protection Directive established in 1995, creating a greater territorial scope and stricter penalties for those states members, and business dealing with Personal Data, who fail to keep and handle data according to the new regulation. The GDPR was finally approved by the EU Parliament on 14 April 2016 but will apply from 25 May 2018, giving a two-year transition period for all EU members states. This is a call for all SME’s: you need to prepare now!