The Standarization Board (SB) manages related data definitions, including those of the Legal Entity Framework (LEF), on the MYOBI Trust Network. The SB makes the data definitions in the information ecosystems available to companies. Management concerns:
- Making connections between data definitions of various authentic source holders such as the Chambers of Commerce in the Netherlands or the Company House in England;
- Connecting to various sector-specific schemes that include data definitions. This consists of the common data eXtensible Business Reporting Language (XBRL) or Fast Healthcare Interoperability Resources (FHIR HL7);
- Deriving data definitions from relevant legislation and keeping these definitions up to date;
- Managing and expanding LEF definitions from different domains. Consider, for example, reporting on annual accounts, fiscal accountability or accountability in the context of data protection; and
- Sector or company-specific data definitions.
By providing the information ecosystems with a set of data definitions, users of the trusted network can build and manage an interoperable semantic network with partners (employees, customers and suppliers). In this way, a company not only promotes connecting to target groups but also lays the foundation for a more effective and cost-efficient internal organisation. The company organises data portability and takes steps towards a data-centric organisation.
A person is entitled to receive personal data that an organisation has from the person. This is called the right to data portability, see European General Data Protection Regulation, Article 20 GDPR. The organisation is legally obliged to provide the data in a structured, commonly used and machine-readable format.
Various disciplines have been brought together in the SB. Lawyers, compliance professionals and database management specialists work together under the guidance of a senior. The SB makes an inventory of relevant legislation, standardisations and best practices from everyday business activities. For example, the general company and personal data are recognised, data for the conclusion of agreements and the organisation of compliance with business activity obligations for sales and purchasing and human resources management. Standards have been drawn up from a number of sectors.
The SB is open to proposals from users of the MYOBI Trust Network for additional standard sets of data definitions. Please contact MYOBI Service desk.