What is a key reason for a company to comply with the General Data Protection Regulation?

A key reason for a company to comply with the General Data Protection Regulation (GDPR) is that it processes data from individuals in the European Union (EU). GDPR is specifically designed to protect the personal data and privacy of EU citizens. If a company collects, stores, or processes any personal data relating to individuals who are located in the EU, it is obligated to comply with the regulation, irrespective of where the company itself is based. This includes implementing appropriate data protection measures, respecting individuals' rights regarding their personal data, and adhering to stringent compliance requirements.

Compliance with GDPR not only helps protect the rights of individuals but also enables organizations to build trust and demonstrate their commitment to data protection. Non-compliance can result in significant fines and reputational damage. Therefore, for companies handling EU residents' personal data, compliance with GDPR is not merely recommended; it is a legal necessity.