Standard Data Trial Agreement (PDF)
Alternative Data or Big Data continues to expand and can include both structured numeric databases and unstructured formats, including text, video, and audio data. High-profile data breaches and commercialisation of some of this data has increased scrutiny of data usage raising questions on the right to use data and personal privacy. When negotiating licences for using data, these risks now need to be considered alongside more traditional risks, such as material non-public information.
This document contains a Standardised Trial Data Licence Agreement which includes key legal clauses investment managers and alternative data vendors should consider including general contractual and commercial arrangements, confidentiality, licence terms, representation and warranties, governing law, rights after termination, and additional provisions.