Privacy policy as a tool for IT companies to escape liability

Abstract

This paper is going to focus on GDPR-compliant privacy policy development for Armenia-based IT companies. The law on State Assistance of Information Technologies adopted in 2014 by the Republic of Armenia resulted in a sharp increase in Armenia-based IT companies. In 2017 the number of registered IT companies reached 272. Current ATOM (Advanced Tomorrow) Presidential Initiative on Technology and Science Development in Armenia, aims at leading IT companies from abroad to develop artificial intelligence, mathematical modeling and machine learning. With such a rapid growth of the number of IT companies in Armenia, tools are needed to ensure that they comply with GDPR standards while processing data of EU nationals and or transferring data to the EU territory. A GDPR-compliant privacy policy can be used as such a tool to escape possible litigations, which can result in big financial fines. This thesis paper focuses on the development of GDPR-compliant Privacy Policy for IT companies to be used as a tool to escape liability.