Parsons Behle Lab, the new innovation subsidiary of the law firm Parsons Behle & Latimer, announced that it has launched GDPR IQ (www.gdpriq.com), an automated online platform that generates the legal documents companies and nonprofits need to comply with the European Union's (EU) General Data Protection Regulation (GDPR).
It is the first automated tool that assesses an organization's GDPR needs and generates the complete set of required GDPR policies, procedures and proof of compliance documents.
"Millions of businesses and nonprofits in the United States interface with Europe and will be required to comply with the GDPR by May 25th," said Kimball Parker, president of Parsons Behle Lab and an attorney at Parsons Behle & Latimer. "With the compliance deadline fast approaching, we recognized that small to midsized businesses, as well as nonprofits, need an affordable, timely way to generate the voluminous legal policies and documents necessary to comply. What would take an attorney months and potentially cost hundreds of thousands of dollars now takes minutes with GDPR IQ, for a fraction of the cost."
The GDPR is an EU directive that governs how organizations collect and process the personal information of individuals in the EU. Research by security firm HyTrust shows that 78 percent of the millions of affected U.S. businesses and nonprofits do not have a plan in place to be compliant by the deadline. Penalties for noncompliance can scale upwards of $24 millionor 4 percent of their annual revenue, whichever is greater.
GDPR attorneys at Parsons Behle & Latimer drafted the legal documents used by GDPR IQ. A GDPR law firm in the EU reviewed and verified the legal documents. "Parsons Behle Lab combined the deep experience of our GDPR compliance attorneys with innovative software technology," said Hal J. Pos, president of Parsons Behle & Latimer. "The result is a high quality GDPR compliance solution at an affordable price."
This innovation was fueled by discussions with small- to medium-sized clients that were unable to afford traditional legal services to comply with the GDPR that Parsons Behle & Latimer's larger clients had implemented. Price Waterhouse Cooper found that 77 percent of surveyed businesses expect to spend at least $1 million to address the regulation requirements.
To help the nonprofit community, GDPR IQ is available to nonprofits at a 50 percent discount. Many important nonprofits, such as refugee organizations, deal heavily with Europe. In addition, Parsons Behle Lab hopes to empower nonprofit refugee organizations to continue their vital work by offering GDPR IQ to them for free.
Parsons Behle Lab was inspired by Parker's work as the founding director of the LawX design lab at BYU Law School. At LawX, he oversaw the development of SoloSuit – a free online tool that helps Utahns who cannot afford legal services to respond to debt collection lawsuits. Available for free at www.solosuit.com, it is being adapted by other states and for other uses throughout the nation. Parsons Behle Lab licensed the SoloSuit platform and has adapted it through additional investment to create GDPR IQ.
Prior to SoloSuit, Kimball founded CO/COUNSEL, a legal crowdsourcing website that visually maps the logic of the law and is currently being used in law schools across the United States and United Kingdom(www.cocounsel.co). For his efforts with CO/COUNSEL, Kimball received a Fastcase 50 Award, which honors "the law's smartest, most courageous innovators, techies, visionaries, and leaders."