Privacy and data rules
173 of 521 companies added a paragraph in Risk Factors that uses one of these words:
privacy, GDPR, personal data, personal information.
The paragraph is in the latest 10-K and nothing like it was in the one before.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 5 | 5 |
| Computer Peripheral Equipment, NEC | 2 | 2 |
| Instruments For Meas & Testing of Electricity & Elec Signals | 2 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 2 | 2 |
| Rubber & Plastics Footwear | 2 | 2 |
| Air Courier Services | 1 | 1 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Bottled & Canned Soft Drinks & Carbonated Waters | 1 | 1 |
| Electronic Components & Accessories | 1 | 1 |
| Electronic Connectors | 1 | 1 |
| Engines & Turbines | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| General Industrial Machinery & Equipment, NEC | 1 | 1 |
| Grain Mill Products | 1 | 1 |
| Leather & Leather Products | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Food Preparations & Kindred Products | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Paints, Varnishes, Lacquers, Enamels & Allied Prods | 1 | 1 |
| Paper Mills | 1 | 1 |
| Radiotelephone Communications | 1 | 1 |
| Real Estate | 1 | 1 |
| Retail-Drug Stores and Proprietary Stores | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Radio, Tv & Consumer Electronics Stores | 1 | 1 |
| Retail-Retail Stores, NEC | 1 | 1 |
| Rolling Drawing & Extruding of Nonferrous Metals | 1 | 1 |
| Services-Advertising Agencies | 1 | 1 |
| Services-Detective, Guard & Armored Car Services | 1 | 1 |
| Services-Equipment Rental & Leasing, NEC | 1 | 1 |
| Services-Miscellaneous Amusement & Recreation | 1 | 1 |
| Services-Video Tape Rental | 1 | 1 |
| Special Industry Machinery, NEC | 1 | 1 |
| Water Supply | 1 | 1 |
| Wholesale-Medical, Dental & Hospital Equipment & Supplies | 1 | 1 |
| Computer Communications Equipment | 2 | 3 |
| Electronic Computers | 2 | 3 |
| Measuring & Controlling Devices, NEC | 2 | 3 |
| Retail-Auto Dealers & Gasoline Stations | 2 | 3 |
| Services-Commercial Physical & Biological Research | 2 | 3 |
| Services-Computer Integrated Systems Design | 2 | 3 |
| Services-Consumer Credit Reporting, Collection Agencies | 2 | 3 |
| Services-Prepackaged Software | 12 | 19 |
| Finance Services | 17 | 28 |
| Biological Products, (No Diagnostic Substances) | 3 | 5 |
| Computer Storage Devices | 3 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 3 | 5 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 2 | 4 |
| Retail-Eating Places | 2 | 4 |
| Services-Computer Processing & Data Preparation | 2 | 4 |
| Accident & Health Insurance | 1 | 2 |
| Cigarettes | 1 | 2 |
| Cutlery, Handtools & General Hardware | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 1 | 2 |
| Paperboard Containers & Boxes | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Radio & Tv Broadcasting & Communications Equipment | 1 | 2 |
| Retail-Auto & Home Supply Stores | 1 | 2 |
| Services-Medical Laboratories | 1 | 2 |
| Services-To Dwellings & Other Buildings | 1 | 2 |
| Telephone Communications (No Radiotelephone) | 1 | 2 |
| Transportation Services | 1 | 2 |
| Trucking (No Local) | 1 | 2 |
| Wholesale-Groceries & Related Products | 1 | 2 |
| Services-Computer Programming, Data Processing, Etc. | 2 | 5 |
| Services-Business Services, NEC | 6 | 16 |
| Investment Advice | 3 | 8 |
| National Commercial Banks | 4 | 11 |
| Real Estate Investment Trusts | 9 | 27 |
| Insurance Agents, Brokers & Service | 2 | 6 |
| Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip | 1 | 3 |
| Computer & office Equipment | 1 | 3 |
| Life Insurance | 1 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 1 | 3 |
| Retail-Building Materials, Hardware, Garden Supply | 1 | 3 |
| Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics | 1 | 3 |
| Surgical & Medical Instruments & Apparatus | 3 | 10 |
| Security Brokers, Dealers & Flotation Companies | 2 | 7 |
| Semiconductors & Related Devices | 4 | 15 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 1 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 1 | 4 |
| Hospital & Medical Service Plans | 1 | 5 |
| Hotels & Motels | 1 | 5 |
| Laboratory Analytical Instruments | 1 | 5 |
| Retail-Variety Stores | 1 | 5 |
| Pharmaceutical Preparations | 2 | 11 |
| Fire, Marine & Casualty Insurance | 2 | 12 |
| Petroleum Refining | 1 | 6 |
| State Commercial Banks | 1 | 6 |
| Crude Petroleum & Natural Gas | 1 | 7 |
| Electric Services | 2 | 15 |
433 paragraphs · Surgical & Medical Instruments & Apparatus show all sectors
risks, including from confidentiality, privacy, data protection, cybersecurity and compliance perspectives, and raises intellectual property issues and legal, regulatory, reputational ethical, operational, technological and other concerns (see, “Our operations are dependent in part on patents and other intellectual property assets” and “Cybersecurity incidents and breaches or breakdowns of our information and technology systems or infrastructure could have a material adverse effect on our operations” elsewhere in this Item 1A, Risk Factors). Additionally, if we do not effectively adopt and integrate AI into innovative, market-differentiated products in a timely manner, our competitive position could be adversely affected.
Read in the 10-K filed Nov 25, 2025 ↗
We are also subject to complex and rapidly evolving privacy and data protection laws, regulations and standards which govern the collection, use, storage, transfer, sharing and processing of personal data (particularly sensitive health information) across the U.S. and a significant number of other countries where we operate. The nature of our technologies and data-driven solutions amplifies privacy and data protection risks, especially as we employ could-based infrastructures, AI and other emerging digital capabilities. These innovations can introduce new vectors for data exposure, algorithmic bias, and regulatory scrutiny. These laws, rules and regulations require, among other things, proactive implementation of comprehensive compliance programs, continuous enhancement of internal policies, business practices, processes, and integration of technical and organizational safeguards across all assets and activities that process personal data. These requirements often entail operational constraints and higher compliance costs and may require us to modify existing or future products, potentially impacting innovation timelines and financial performance.
Read in the 10-K filed Nov 25, 2025 ↗
Furthermore, privacy and data protection risks extend beyond our direct operations. Non-compliance by third-party vendors, manufacturers, or service providers (especially those involved in data processing) can expose us to liability indirectly. Cybersecurity incidents, system failures, or breaches involving our own infrastructure or that of our partners may trigger regulatory scrutiny, financial penalties, business interruption, reputational harm, loss of competitive advantage and customer trust, as well as privacy litigation and civil lawsuits with damages.
Read in the 10-K filed Nov 25, 2025 ↗
Artificial intelligence (AI) technologies support a range of the Company’s activities, including research and development, operational processes, customer facing tools, and other business functions. The use of AI introduces risks that could adversely affect the Company’s business, results of operations, or financial condition. AI systems may produce inaccurate, biased, or incomplete outputs, which could lead to operational errors, reduced product or service quality, or unintentional impacts on business decisions. External vendors and third party AI tools may expose the Company to additional risks, including insufficient transparency into model performance, vulnerabilities in underlying technologies, or disruptions in service availability. AI development and deployment also require security, and proper governance of the data used. Use of AI tools, including third party platforms, increases the risk of unauthorized disclosure, loss, or misuse of confidential, personal, or commercially sensitive information. In addition, there is a risk that employees or contractors could inadvertently input confidential company information or third party proprietary data into AI systems, including systems not designed for secure handling of such information. These actions could result in violations of contractual obligations, data protection requirements, or intellectual property rights, and could expose the Company to legal, regulatory, or reputational harm. Emerging and evolving regulations related to AI use, transparency, safety, and accountability may require additional investment, changes to existing processes, or limitations on the development and application of these technologies. Rapid advances in AI may also create competitive pressures or require ongoing investment to maintain effectiveness, and failures to manage, govern, or deploy AI responsibly could impair the Company’s ability to achieve expected efficiencies or strategic objectives. While the Company will seek to develop and use artificial intelligence responsibly, and will attempt to identify and mitigate ethical, privacy, legal or other issues presented by its use, there can be no assurance that the Company will be fully successful in doing so, and may be subject to data breaches, allegations of unauthorized access to, or use of, third party data, information, or intellectual property rights, or other risks, which may lead to financial losses, legal liability, regulatory scrutiny and reputational damage.
Read in the 10-K filed Feb 3, 2026 ↗
Solventum has begun to deploy AI in its products and services, including as part of its research and development efforts, and Solventum expects to continue to explore additional uses as AI continues to develop. In addition, Solventum intends to devote significant resources to develop and deploy cloud, edge and software solutions in its healthcare solutions. For example, Solventum has incorporated AI into certain products in the Health Information Systems business segment and certain of its digital offerings and expects to continue to build AI into additional products. Any disruption or failure in the AI, machine learning, or other emerging technologies Solventum deploys or uses in its products and services, including as part of its research and development efforts, could adversely impact Solventum’s business, including as a result of flawed AI algorithms, insufficient or biased datasets, malfunctions or manipulations, unintentional release of confidential information, or product or service delays or recalls. In addition, any failure to successfully deploy or use such technologies in Solventum’s products and services, or to adapt to medical technology industry trends and developments related to such technologies in a timely manner (or at all), particularly as competitors incorporate such technologies into new and existing products and services, could adversely affect customer demand for Solventum’s products and its competitiveness. The deployment of AI, machine learning or other emerging technologies into Solventum’s products and services will require additional investment and increase its costs. Furthermore, the rapid advancement of technology, including AI, creates additional risks as Solventum includes such technology into its products and services, including from confidentiality, privacy, data protection, cybersecurity and compliance perspectives, and raises intellectual property issues and operational, technological and other concerns. Any of the above factors could adversely affect Solventum’s business, financial condition, results of operations and cash flows.
Read in the 10-K filed Feb 27, 2026 ↗
•unforeseen risks and liabilities associated with businesses acquired, including any unknown vulnerabilities in acquired technology, compromises of acquired data or noncompliance with data privacy requirements; and/or
Read in the 10-K filed Feb 27, 2026 ↗