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Is there a single regulatory regime that governs software?
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How are proprietary rights in software and associated materials protected?
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In the event that software is developed by a software developer, consultant or other party for a customer, who will own the resulting proprietary rights in the newly created software in the absence of any agreed contractual position?
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Are there any specific laws that govern the harm / liability caused by Software / computer systems?
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To the extent not covered by (4) above, are there any specific laws that govern the use (or misuse) of software / computer systems?
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Other than as identified elsewhere in this overview, are there any technology-specific laws that govern the provision of software between a software vendor and customer, including any laws that govern the use of cloud technology?
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Is it typical for a software vendor to cap its maximum financial liability to a customer in a software transaction? If ‘yes’, what would be considered a market standard level of cap?
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Please comment on whether any of the following areas of liability would typically be excluded from any financial cap on the software vendor’s liability to the customer or subject to a separate enhanced cap in a negotiated software transaction (i.e. unlimited liability): (a) confidentiality breaches; (b) data protection breaches; (c) data security breaches (including loss of data); (d) IPR infringement claims; (e) breaches of applicable law; (f) regulatory fines; (g) wilful or deliberate breaches.
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Is it normal practice for software source codes to be held in escrow for the benefit of the software licensee? If so, who are the typical escrow providers used?
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Are there any export controls that apply to software transactions?
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Other than as identified elsewhere in this questionnaire, are there any specific technology laws that govern IT outsourcing transactions?
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Please summarise the principal laws (present or impending), if any, that protect individual staff in the event that the service they perform is transferred to a third party IT outsource provider, including a brief explanation of the general purpose of those laws.
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Which body(ies), if any, is/are responsible for the regulation of telecommunications networks and/or services?
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Please summarise the principal laws (present or impending), if any, that govern telecommunications networks and/or services, including a brief explanation of the general purpose of those laws.
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Which body(ies), if any, is/are responsible for data protection regulation?
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Please summarise the principal laws (present or impending), if any, that that govern data protection, including a brief explanation of the general purpose of those laws.
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What is the maximum sanction that can be imposed by a regulator in the event of a breach of any applicable data protection laws?
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Do technology contracts in your country typically refer to external data protection regimes, e.g. EU GDPR or CCPA, even where the contract has no clear international element?
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Which body(ies), if any, is/are responsible for the regulation of artificial intelligence?
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Please summarise the principal laws (present or impending), if any, that that govern the deployment and use of artificial intelligence, including a brief explanation of the general purpose of those laws.
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Are there any specific legal provisions (present or impending) in respect of the deployment and use of Large Language Models and/or generative AI?
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Which body(ies), if any, is/are responsible for the regulation of blockchain and / or digital assets generally?
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What are the principal laws (present or impending), if any, that govern (i) blockchain specifically (if any) and (ii) digital assets, including a brief explanation of the general purpose of those laws?
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Are blockchain based assets such as cryptocurrency or NFTs considered “property” capable of recovery (and other remedies) if misappropriated?
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Which body(ies), if any, is/are responsible for the regulation of search engines and marketplaces?
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Please summarise the principal laws (present or impending), if any, that govern search engines and marketplaces, including a brief explanation of the general purpose of those laws.
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Which body(ies), if any, is/are responsible for the regulation of social media?
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Please summarise the principal laws (present or impending), if any, that govern social media, including a brief explanation of the general purpose of those laws?
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What are your top 3 predictions for significant developments in technology law in the next 3 years?
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Do technology contracts in your country commonly include provisions to address sustainability / net-zero obligations or similar environmental commitments?
Cyprus: TMT
This country-specific Q&A provides an overview of TMT laws and regulations applicable in Cyprus.