The Schrems II decision will have a great impact on international commerce among companies doing business with the European Union (EU). The consequence of not paying attention to Schrems II could literally mean a partial or complete shut-down of data transfers between EU and non-EU countries, which could impact the bottom line of any global company. However, the level of the impact depends on the location of the company, the industry vertical it is part of, and the strategic privacy planning that company has done for sustaining compliance with General Data Protection Regulation (GDPR).
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