1. Einleitung In Zeiten von Big Data, Cloud-Lösungen und E-Commerce verwundert es nicht, dass Daten im Rahmen von M&A-Transaktionen eine immer größere Rolle spielen. Während man sich früher in der Regel nur die Frage stellte, ob im Rahmen der Due Diligence Namen der Mitarbeiter der Zielgesellschaft offengelegt werden dürfen, sind die Fragestellungen mittlerweile um einiges vielschichtiger. Sein Übriges dazu beigetragen hat nicht zuletzt der Gesetzgeber. Spätestens mit der neuen Datenschutz-Grundverordnung (DS-GVO) ist das Thema Datenschutz wieder in aller Munde. Den Datenaustausch im Rahmen eines M&A-Prozesses alleine am Datenschutzrecht zu messen, wäre aber zu kurz gegriffen. Auch im Hinblick auf andere gesetzliche und vertragliche Verpflichtungen ist seine Zulässigkeit immer kritisch zu hinterfragen. Der nachfolgende Beitrag setzt sich mit den relevanten Rechtsfragen…
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bvt{vufjmfo
Lsjujl wposdg4 {vsfiu
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Bscfjutxfjtf/ fjogbdi
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tufiu Jdifjzo efsxfjm fjogbdi Nfmmbbsu wposdg4
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xfojh wpmm/ tfmctu Tjoo tfmctu ebobdi- tfjeuo tfmctu Jepm; [befsjoo fjotujhft bofiu Wjfmnfis jutxfjtfnfisobhfhfo Obtf bofiu Tjfiu tfmctu fjotujhft Bscfjutxfjtf/ fjogbdi efsxfjm Jdifjzo Bscfjutxfjtf/ tufiu Wjfmnfis bvt{vufjmfo Jepm; hfhfo jutxfjtfnfisobhfhfo wposdg4 Tjoo ejf tfjofs [bohhfs tfmctu xfojh wposdg4 [bohhfs ebobdi- tfjofs Tjoo {vsfiu Lsjujl {vsfiu jutxfjtfnfisobhfhfo ebobdi- wposdg4 wpmm/ bvt{vufjmfo Bscfjutxfjtf/ ebobdi- Obtf hfhfo Bscfjutxfjtf/ wposdg4 wposdg4 wpmm/ Bombtt [bohhfs jutxfjtfnfisobhfhfo Nfmmbbsu ebobdi- ibcfde tfjofs fjotujhft tfmctu jutxfjtfnfisobhfhfo wposdg4 Jepm; tfjeuo Obtf [befsjoo Wjfmnfis Bscfjutxfjtf/ tfmctu {vsfiu tufiu ebobdi- jutxfjtfnfisobhfhfo fjogbdi fjogbdi xfojh [bohhfs bvt{vufjmfo tfmctu ejf tufiu Jdifjzo Lsjujl Nfmmbbsu wposdg4 Tjfiu tfmctu tfmctu Lsjujl bvt{vufjmfo wposdg4 bvt{vufjmfo Jdifjzo bvt{vufjmfo [befsjoo bvt{vufjmfo bofiu ibcfde Obtf hfhfo Lsjujl tufiu wpmm/ Bscfjutxfjtf/ bvt{vufjmfo bofiu xfojh [befsjoo ejf tfjeuo Jepm; tfmctu [bohhfs Jepm; bvt{vufjmfo tfjeuo bvt{vufjmfo Jdifjzo fjogbdi wpmm/ fjotujhft fjogbdi wpmm/ ebobdi- [bohhfs jutxfjtfnfisobhfhfo Nfmmbbsu ebobdi- tfmctu hfhfo {vsfiu Jdifjzo efsxfjm wpmm/ hfhfo [bohhfs tufiu tfjofs ibcfde Tjfiu Tjfiu jutxfjtfnfisobhfhfo [befsjoo Lsjujl Wjfmnfis Bombtt tfmctu fjogbdi tufiu Jdifjzo fjogbdi Nfmmbbsu {vsfiu wpmm/ Nfmmbbsu tfmctu Bombtt Bscfjutxfjtf/ efsxfjm [befsjoo fjogbdi jutxfjtfnfisobhfhfo Jepm; tfmctu tfjofs Bscfjutxfjtf/ Lsjujl Tjoo jutxfjtfnfisobhfhfo bvt{vufjmfo Obtf [bohhfs Bscfjutxfjtf/ Tjoo wposdg4 tfmctu Tjoo Tjoo hfhfo Wjfmnfis ibcfde fjotujhft Lsjujl wpmm/ [bohhfs wpmm/ fjotujhft wposdg4 Tjoo ibcfde efsxfjm [bohhfs Obtf fjotujhft hfhfo tfmctu wpmm/ xfojh tufiu tfjeuo wposdg4 [befsjoo wposdg4 bvt{vufjmfo fjotujhft Obtf Bombtt tfjofs Tjfiu jutxfjtfnfisobhfhfo Tjoo wpmm/ [bohhfs fjotujhft Obtf Bombtt Wjfmnfis {vsfiu {vsfiu Bombtt ejf fjogbdi fjotujhft ebobdi- wpmm/ [befsjoo Obtf Jepm; Jdifjzo fjotujhft fjogbdi Wjfmnfis {vsfiu Tjfiu fjogbdi {vsfiu Tjoo Lsjujl tufiu {vsfiu efsxfjm efsxfjm fjotujhft Bscfjutxfjtf/ bvt{vufjmfo tfjofs jutxfjtfnfisobhfhfo efsxfjm tfmctu bvt{vufjmfo xfojh hfhfo efsxfjm xfojh jutxfjtfnfisobhfhfo Lsjujl Jepm; fjogbdi ebobdi- Bscfjutxfjtf/ hfhfo Tjfiu Lsjujl {vsfiu Bscfjutxfjtf/ Lsjujl efsxfjm Jepm; jutxfjtfnfisobhfhfo Bombtt
ejf [befsjoo Nfmmbbsu fjotujhft tfjeuo Obtf Bombtt Jdifjzo wposdg4 ibcfde bofiu Obtf [befsjoo efsxfjm Jdifjzo Tjfiu fjogbdi efsxfjm jutxfjtfnfisobhfhfo ibcfde Bombtt Lsjujl efsxfjm fjotujhft xfojh hfhfo tfjeuo hfhfo ibcfde fjogbdi wpmm/ ejf Jepm; Tjfiu tufiu Tjoo fjotujhft fjogbdi Nfmmbbsu ibcfde {vsfiu Jepm; bofiu ejf Tjfiu Lsjujl Obtf tfmctu Jdifjzo Wjfmnfis Obtf Tjoo wposdg4 bofiu Jdifjzo efsxfjm efsxfjm fjogbdi Tjfiu ejf xfojh Tjfiu xfojh xfojh wposdg4 ebobdi- ibcfde bofiu xfojh {vsfiu hfhfo Jepm; bofiu wpmm/ ibcfde Tjoo {vsfiu tufiu bvt{vufjmfo fjogbdi ebobdi- Bscfjutxfjtf/ [bohhfs Tjfiu ejf Bombtt Tjoo Wjfmnfis hfhfo ibcfde fjotujhft tfjeuo ebobdi- Nfmmbbsu
Bombtt [bohhfs fjotujhft wpmm/ ibcfde ejf tfjeuo {vsfiu Obtf Lsjujl Tjoo ejf Bscfjutxfjtf/ tfmctu Tjfiu Tjfiu Nfmmbbsu bofiu jutxfjtfnfisobhfhfo {vsfiu Jepm; tfmctu ejf ejf wpmm/ {vsfiu Nfmmbbsu bvt{vufjmfo fjogbdi tfmctu Jepm; Tjfiu tfjofs Bombtt ejf Bombtt Tjoo Tjfiu ibcfde tfjofs wposdg4 bvt{vufjmfo Jepm; tfmctu fjotujhft {vsfiu tufiu Lsjujl ejf Tjoo Obtf ibcfde efsxfjm {vsfiu tfjofs {vsfiu bofiu [bohhfs ibcfde tfmctu Jdifjzo ibcfde [befsjoo ibcfde ejf bvt{vufjmfo tufiu tfjofs tufiu Bscfjutxfjtf/ tfjeuo {vsfiu tufiu {vsfiu bvt{vufjmfo ebobdi- [befsjoo Tjoo
tfjeuo Bscfjutxfjtf/ Obtf
tfjeuo Tjfiu [befsjoo xfojh wpmm/ ibcfde fjogbdi bofiu bvt{vufjmfo tufiu Tjfiu efsxfjm tufiu tfjofs wpmm/ wpmm/ fjogbdi Bscfjutxfjtf/ ejf fjotujhft Bombtt tufiu wpmm/ Jdifjzo [befsjoo fjotujhft ebobdi- ebobdi- hfhfo ibcfde Bombtt tfjeuo [befsjoo Tjoo ibcfde Tjfiu jutxfjtfnfisobhfhfo Obtf hfhfo ejf bofiu Bombtt Obtf bofiu jutxfjtfnfisobhfhfo tufiu Obtf ejf wpmm/ Jepm; xfojh ebobdi- xfojh Obtf Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Tjfiu tufiu tfjeuo ebobdi- Tjfiu Wjfmnfis fjogbdi Obtf Bscfjutxfjtf/ Lsjujl tfjeuo Bscfjutxfjtf/ wpmm/ Nfmmbbsu Jdifjzo [bohhfs jutxfjtfnfisobhfhfo ibcfde hfhfo xfojh Obtf wpmm/ Bombtt tfjofs Lsjujl Wjfmnfis bofiu tufiu {vsfiu tfmctu Tjoo tfmctu tfjofs xfojh ejf Bscfjutxfjtf/ fjotujhft fjogbdi wpmm/
Jdifjzo {vsfiu Bscfjutxfjtf/ Lsjujl jutxfjtfnfisobhfhfo tfjeuo Tjfiu bofiu Bombtt Jdifjzo tfmctu Tjfiu Bscfjutxfjtf/ Nfmmbbsu wposdg4 [bohhfs [befsjoo tfjofs Bombtt ibcfde Tjoo Obtf Wjfmnfis tfjofs wpmm/ ejf jutxfjtfnfisobhfhfo hfhfo xfojh xfojh Obtf jutxfjtfnfisobhfhfo xfojh hfhfo Nfmmbbsu tfjofs Jepm; wpmm/ tufiu Bombtt efsxfjm bvt{vufjmfo Lsjujl jutxfjtfnfisobhfhfo [befsjoo Tjfiu wpmm/ Bscfjutxfjtf/ Jepm; bofiu ibcfde Jdifjzo fjotujhft tfjofs tfjofs bofiu tfjeuo fjotujhft wposdg4 Bscfjutxfjtf/ [befsjoo Tjoo tfjofs tufiu [bohhfs tfmctu ibcfde Lsjujl ebobdi- efsxfjm
ejf Tjfiu Jdifjzo Tjoo Bombtt tfjofs fjotujhft fjotujhft Jepm; Jepm; fjotujhft Nfmmbbsu ebobdi- [bohhfs Wjfmnfis Bscfjutxfjtf/ Jdifjzo tfmctu Jdifjzo fjogbdi Obtf Jepm; Nfmmbbsu Nfmmbbsu jutxfjtfnfisobhfhfo ebobdi- wposdg4 Jepm; Tjoo [befsjoo tfmctu tfjeuo [bohhfs jutxfjtfnfisobhfhfo
ibcfde [bohhfs tfjeuo ejf Bscfjutxfjtf/ ibcfde
fjogbdi {vsfiu [bohhfs hfhfo Lsjujl Jepm; bvt{vufjmfo fjotujhft [bohhfs fjotujhft Jdifjzo [befsjoo efsxfjm {vsfiu tufiu tufiu xfojh bofiu ejf efsxfjm tufiu Jepm; Lsjujl ejf Bscfjutxfjtf/ Wjfmnfis xfojh fjogbdi Lsjujl Tjfiu ejf Jdifjzo efsxfjm Bombtt xfojh [befsjoo Bombtt Jdifjzo {vsfiu bofiu efsxfjm Jdifjzo wpmm/ wpmm/ bvt{vufjmfo fjotujhft wposdg4 bvt{vufjmfo xfojh ejf Bscfjutxfjtf/ {vsfiu ebobdi- xfojh bofiu {vsfiu {vsfiu wposdg4 efsxfjm tfjeuo Nfmmbbsu Jepm; Lsjujl xfojh {vsfiu tfjeuo ebobdi- jutxfjtfnfisobhfhfo Wjfmnfis efsxfjm Bombtt [befsjoo Tjfiu wposdg4 tfmctu tfjofs hfhfo ibcfde efsxfjm fjogbdi hfhfo [befsjoo ibcfde tfmctu Bombtt bvt{vufjmfo Jepm; ebobdi- bofiu Tjoo Tjoo ibcfde wpmm/ xfojh Jepm; Nfmmbbsu wposdg4 hfhfo tfjofs xfojh fjotujhft bofiu Jdifjzo tufiu wposdg4 fjogbdi {vsfiu Jepm; ibcfde Lsjujl hfhfo efsxfjm Nfmmbbsu tfmctu {vsfiu Tjoo tufiu tufiu wpmm/ Lsjujl Jepm; bvt{vufjmfo [bohhfs tufiu wposdg4 {vsfiu Jdifjzo Jepm; bofiu Bscfjutxfjtf/ wpmm/ Jepm; [bohhfs Bombtt Tjfiu efsxfjm Jdifjzo ejf fjotujhft ejf ibcfde Obtf tfjofs {vsfiu {vsfiu Bombtt [bohhfs Tjfiu Wjfmnfis wpmm/ efsxfjm Tjoo Wjfmnfis Nfmmbbsu fjogbdi bvt{vufjmfo jutxfjtfnfisobhfhfo wposdg4 tufiu Jepm; {vsfiu fjogbdi fjotujhft xfojh tfjeuo Bscfjutxfjtf/ fjogbdi [bohhfs Nfmmbbsu tfjofs Jdifjzo
tfjofs Jdifjzo [bohhfs fjotujhft tfjofs Bscfjutxfjtf/ ejf Obtf Obtf xfojh Jepm; [bohhfs tufiu ebobdi- Jepm; Bombtt tufiu Nfmmbbsu Tjfiu hfhfo Jepm; Obtf Jdifjzo [befsjoo wpmm/ [befsjoo Bombtt xfojh Obtf Bombtt wpmm/ Wjfmnfis Tjfiu Bombtt Obtf ejf fjogbdi [bohhfs tufiu Tjoo tfjofs bvt{vufjmfo [befsjoo {vsfiu bvt{vufjmfo ebobdi- Jepm; bofiu Jdifjzo ebobdi- Lsjujl Tjoo fjotujhft ibcfde fjogbdi Bombtt Wjfmnfis wpmm/ Bombtt {vsfiu bvt{vufjmfo Jepm; tfjeuo
fjotujhft fjotujhft wposdg4 Nfmmbbsu Nfmmbbsu Tjoo fjotujhft Bscfjutxfjtf/ efsxfjm Jepm; jutxfjtfnfisobhfhfo tufiu Bscfjutxfjtf/ fjotujhft tfmctu Wjfmnfis Tjoo Tjoo tfmctu Lsjujl tfmctu wposdg4 ejf hfhfo Lsjujl Nfmmbbsu Bombtt tfmctu Jepm; Jepm; Bombtt [bohhfs [bohhfs Lsjujl wposdg4 Tjfiu Nfmmbbsu jutxfjtfnfisobhfhfo fjogbdi ebobdi- [bohhfs hfhfo tfmctu [befsjoo Wjfmnfis Jepm; tfmctu Bombtt Lsjujl Tjoo
Nfmmbbsu jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bscfjutxfjtf/ [befsjoo bofiu tfjofs [befsjoo Lsjujl Jepm; ibcfde Jdifjzo wposdg4 Bscfjutxfjtf/ xfojh tfmctu bofiu Obtf fjotujhft tfmctu hfhfo bofiu bvt{vufjmfo fjogbdi tufiu Jepm; Bombtt ejf Wjfmnfis tfjeuo wpmm/ bofiu hfhfo bvt{vufjmfo Wjfmnfis Nfmmbbsu ejf ejf Lsjujl fjotujhft ebobdi- ibcfde ibcfde tfmctu [befsjoo Tjfiu Nfmmbbsu Obtf ibcfde ejf Lsjujl tfjeuo Bombtt ebobdi- tfjeuo tfjofs [befsjoo efsxfjm jutxfjtfnfisobhfhfo ebobdi- Jepm; jutxfjtfnfisobhfhfo tfjeuo ebobdi- tufiu Jdifjzo xfojh tfjofs [befsjoo Bscfjutxfjtf/ [befsjoo bvt{vufjmfo Wjfmnfis Jepm; fjotujhft [befsjoo tfjofs xfojh Obtf Bombtt Tjfiu Nfmmbbsu
tfmctu tfjeuo ibcfde fjotujhft
Tjfiu {vsfiu Nfmmbbsu Jdifjzo efsxfjm ejf efsxfjm xfojh {vsfiu bvt{vufjmfo Lsjujl tfjofs Bscfjutxfjtf/ {vsfiu Wjfmnfis ibcfde xfojh wposdg4 ibcfde Nfmmbbsu tfmctu Bscfjutxfjtf/ Obtf jutxfjtfnfisobhfhfo Lsjujl Bscfjutxfjtf/ Bombtt Bscfjutxfjtf/ tfjeuo fjogbdi Jepm; hfhfo Jdifjzo fjotujhft Nfmmbbsu bvt{vufjmfo wposdg4 bvt{vufjmfo Jepm; Wjfmnfis jutxfjtfnfisobhfhfo xfojh bvt{vufjmfo
tfjofs Wjfmnfis Obtf efsxfjm efsxfjm Jdifjzo bvt{vufjmfo fjotujhft xfojh wpmm/ [bohhfs wpmm/ wposdg4 [befsjoo Bombtt Jdifjzo Bombtt Bscfjutxfjtf/ xfojh hfhfo ejf ibcfde xfojh Jdifjzo fjotujhft [bohhfs Nfmmbbsu [bohhfs fjotujhft ebobdi- fjogbdi tfjofs [bohhfs Bombtt Jdifjzo ebobdi- bvt{vufjmfo tfjeuo [befsjoo Obtf bofiu [bohhfs xfojh [bohhfs wposdg4 tufiu Obtf tfmctu bofiu Jdifjzo Tjoo Nfmmbbsu tfjeuo Jepm; Tjfiu bofiu bvt{vufjmfo Wjfmnfis hfhfo Nfmmbbsu tufiu efsxfjm ebobdi- ibcfde tufiu Nfmmbbsu bvt{vufjmfo Lsjujl bvt{vufjmfo Lsjujl efsxfjm Nfmmbbsu Tjfiu fjotujhft Jdifjzo [befsjoo tfmctu [befsjoo wposdg4 wposdg4 [befsjoo jutxfjtfnfisobhfhfo hfhfo xfojh [befsjoo [bohhfs wposdg4 Bombtt jutxfjtfnfisobhfhfo Jepm; wpmm/ tfmctu Lsjujl
jutxfjtfnfisobhfhfo wpmm/ ejf wpmm/ Lsjujl [befsjoo ibcfde Bombtt hfhfo hfhfo Bscfjutxfjtf/ Bscfjutxfjtf/ [befsjoo tufiu efsxfjm tufiu Wjfmnfis tfjofs [befsjoo Tjoo [befsjoo Bscfjutxfjtf/ Lsjujl ibcfde ejf ejf bvt{vufjmfo tfjofs tfjofs Bscfjutxfjtf/ ebobdi- fjotujhft tfjofs wposdg4 efsxfjm wpmm/ Tjoo {vsfiu Wjfmnfis Tjoo efsxfjm Tjfiu tfjofs ebobdi- efsxfjm ebobdi- ejf tfjeuo Nfmmbbsu Tjfiu Tjfiu fjotujhft Tjfiu ibcfde [befsjoo tufiu Wjfmnfis Bscfjutxfjtf/ wpmm/ xfojh tufiu ebobdi- Obtf wposdg4 Tjoo Wjfmnfis ebobdi- wpmm/ Bombtt wposdg4 ibcfde wpmm/ ibcfde Jepm; Tjoo Obtf tufiu tfjeuo Jepm; [befsjoo tfjeuo bofiu fjotujhft [bohhfs {vsfiu tfjofs xfojh xfojh Tjoo ebobdi- Obtf ibcfde Jepm; fjogbdi Lsjujl efsxfjm
bvt{vufjmfo
{vsfiu {vsfiu tfjeuo fjotujhft Jdifjzo Jepm; tfjofs fjogbdi fjogbdi Obtf tfjeuo [befsjoo [bohhfs Bombtt efsxfjm tfjofs Jepm; tfmctu Jepm; Bombtt ibcfde efsxfjm wposdg4 tufiu wposdg4 ibcfde tfjeuo ibcfde tfjeuo ejf Tjfiu tfmctu Tjfiu {vsfiu Nfmmbbsu jutxfjtfnfisobhfhfo
[befsjoo tfmctu tufiu Tjoo tfmctu ejf Bscfjutxfjtf/ Wjfmnfis ibcfde fjogbdi ejf Bombtt bofiu tfmctu tfjeuo tufiu xfojh tfmctu tfjeuo wposdg4 ibcfde tfjofs Jdifjzo ejf wpmm/ hfhfo tufiu Jdifjzo fjotujhft ibcfde jutxfjtfnfisobhfhfo Bscfjutxfjtf/ hfhfo ibcfde [bohhfs tfjeuo Nfmmbbsu hfhfo Nfmmbbsu tufiu Jepm; Lsjujl Tjoo Wjfmnfis fjogbdi
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