A data license is just what it sounds like—a legal agreement between a user and a business describing the terms under which the user’s data can be monetized.
This generally covers:
- Who the agreement is between or among.
- What assets are part of the exchange (data i.e., transaction data, user id & specific rewards, i.e., cashback,) i.e., the terms.
- How long the terms of the agreement are active, i.e., the date of termination.
- For what purposes (use cases) the data can be used, i.e., analytics, attribution, retargeting, etc.
In comparison to the Terms of Service agreements found in most every app, data licensing agreements are unique in that the proposed terms are exclusively for the user’s data. This means that when a user agrees to the terms of a data license and swaps data with your business in exchange for compensation, that data becomes valuable zero-party data.
The mytiki data licensing and enforcement technology allows your users to claim and prove legal ownership over their data and subsequently allows for users to participate in optional programs to share, distribute or monetize their asset.
Every data transaction on mytiki is tracked. This ensures transparency and accountability, with a clear record from the moment a user opts into a data licensing agreement. Our system monitors how data is used, providing an immutable log that ensures compliance with the agreed-upon terms.
We take the enforcement of data usage terms seriously. mytiki's platform automatically ensures that all data accessed by buyers is used strictly within the confines of the user agreements. If the data is designated for analytics, that’s the only use it will see.
While Terms of Service agreements are often mandatory, programs involving data licensing are always additive and optional. Declining to license data does not cause a user to lose access to your app or website, and they cannot be enrolled automatically.
Users must consciously elect to agree to a data license and subsequent attached program, which brings us to our next point: for users to want to agree to exchange their data, they’re going to want something they consider valuable in return, i.e., a reward.