Question

what does fair value for personal data mean

Answer 1

Fair value for personal data refers to the monetary worth of an individual's personal information or data. This value is determined by considering factors such as the sensitivity and uniqueness of the data, the potential uses and risks associated with it, and the market demand for such information. Fair value implies that individuals should receive fair compensation for allowing their personal data to be collected, shared, and used by companies or organizations. It also suggests that there should be transparency and accountability in data transactions to ensure that individuals are adequately informed and protected.