As global corporate organisations grow ever more complex and automation increasingly influences how business relationships evolve, the need for universally accessible non-proprietary data on corporate legal entities becomes more acute.
For the past 50 years, companies, regulators, investigators and journalists have mostly used ‘Black Box’ data - data that is opaque, not well defined, uses proprietary identifiers, and has poor data quality feedback loops. But continued reliance on this data could put a firm out of business within five years, according to a new report by OpenCorporates.
Following on from the recent partnership announcement with LexisNexis, OpenCorporates Co-founder and CEO, Chris Taggart, explains how legal entity data can fuel big data initiatives that provide business insights, support transparency, and benefit society as a whole.