SALT LAKE CITY, March 18, 2020 /PRNewswire/ -- SixFifty, the technology subsidiary of Wilson Sonsini Goodrich & Rosati (Wilson Sonsini), today announced the launch of its fully automated General Data Protection Regulation (GDPR) compliance and documentation tool. The online automation platform is part of the SixFifty's privacy suite, which launched in May 2019 with its California Consumer Privacy Act (CCPA) product.
"Meeting the GDPR's requirements can be a laborious and expensive process, but SixFifty's GDPR compliance tool eases the burden at a fraction of what it would otherwise cost to comply," said Kimball Dean Parker, CEO of SixFifty. "By providing companies with an automated tool, created with the assistance from Wilson Sonsini's leading privacy attorneys, SixFifty helps organizations cut through the complexity of the GDPR. With SixFifty, a company can lay the foundation to comply in as little as 30 minutes. Given the success and popularity of our CCPA product, it was logical to build on SixFifty's privacy offering with a GDPR product."
SixFifty's GDPR product provides a single online platform that enables businesses to address key requirements of the GDPR. SixFifty automates six key components of the GDPR, including (1) compliance documentation and contract language for internal policies, contracts and websites; (2) employee training; (3) data mapping (documenting the company's data flow); (4) cookie consent; (5) request management for consumer requests and audits; and (6) data analysis to assess risks. While companies and organizations of any size can benefit from this solution, SixFifty's target market for the GDPR product is companies below $1 billion in revenue.
The GDPR applies to any company that stores or processes personal information about EU citizens even if they do not have a business presence within the EU. A survey by PriceWaterhouseCoopers found that 78% of businesses expected to spend $1 million to comply with the new law. Over 40% expected to pay over $10 million. Since the European Union's sweeping privacy law went into effect in May 2018, GDPR fines have totaled a reported $126 million with over 160,000 data breaches. U.S.-based companies of all sizes have strived to comply with its guidelines. SixFifty's GDPR compliance tool, which was built by Silicon Slopes-based software engineers with strategic input from Wilson Sonsini's top GDPR and privacy experts in Brussels and Silicon Valley, helps ensure that organizations can satisfy these requirements.
"GDPR represents the biggest change to data protection laws in 20 years, and navigating its complexities can be particularly challenging for American companies that are serving customers in the EU," said Cédric Burton, Co-Chair of Wilson Sonsini's Privacy Group in Brussels. "SixFifty's GDPR tool helps companies to quickly get up to speed on GDPR compliance in an affordable way."
Wilson Sonsini formed SixFifty in February 2019 to develop automated tools designed to make legal processes more efficient and affordable. SixFifty operates in tandem with experienced attorneys from Wilson Sonsini to provide companies with the optimal combination of automation and human expertise. In addition to GDPR and CCPA compliance tools, SixFifty has created a tool for Nevada's new privacy law that gives people the right to request that businesses not sell their personal information.
The GDPR package will be available as part of the SixFifty privacy suite beginning this month, with the option to purchase as a stand alone or in tandem with the CCPA package. More than 100 companies have already used SixFifty's compliance services. For more information, visit https://www.sixfifty.com/solutions/gdpr/.
About Wilson Sonsini Goodrich & Rosati For more than 50 years, Wilson Sonsini Goodrich & Rosati has offered a broad range of services and legal disciplines focused on serving the principal challenges faced by the management and boards of directors of business enterprises. The firm is nationally recognized as a leader in the fields of corporate governance and finance, mergers and acquisitions, private equity, securities litigation, employment law, intellectual property, and antitrust, among many other areas of law. With deep roots in Silicon Valley, Wilson Sonsini Goodrich & Rosati has offices in Austin; Beijing; Boston; Brussels; Hong Kong; London; Los Angeles; New York; Palo Alto; San Diego; San Francisco; Seattle; Shanghai; Washington, D.C.; and Wilmington, DE. For more information, please visit www.Wilson Sonsini.com
About SixFifty Headquartered in the Silicon Slopes area of Utah, SixFifty is a subsidiary of Wilson Sonsini Goodrich & Rosati and combines the expertise of the world's leading technology law firm, made accessible through thoughtful technology. Led by a group of lawyers and software engineers that believe the law should be easier to navigate, SixFifty streamlines complex areas of the law by providing actionable, efficient and affordable solutions for individuals and businesses. For more information, please visit www.sixfifty.com.