Excellent Brookings paper: “Why data ownership is the wrong approach to protecting privacy.”
From the introduction:
Treating data like it is property fails to recognize either the value that varieties of personal information serve or the abiding interest that individuals have in their personal information even if they choose to “sell” it. Data is not a commodity. It is information. Any system of information rights — whether patents, copyrights, and other intellectual property, or privacy rights — presents some tension with strong interest in the free flow of information that is reflected by the First Amendment. Our personal information is in demand precisely because it has value to others and to society across a myriad of uses.
From the conclusion:
Privacy legislation should empower individuals through more layered and meaningful transparency and individual rights to know, correct, and delete personal information in databases held by others. But relying entirely on individual control will not do enough to change a system that is failing individuals, and trying to reinforce control with a property interest is likely to fail society as well. Rather than trying to resolve whether personal information belongs to individuals or to the companies that collect it, a baseline federal privacy law should directly protect the abiding interest that individuals have in that information and also enable the social benefits that flow from sharing information.