The EU Data Act is a proposal for a regulation published in February 2022. Such a regulation will enable mandatory non-personal data sharing between data holders, users, and recipients (as per the user’s request). The data to be shared is the data that will be generated from an IoT device or related service. Moreover, it will facilitate switching between cloud processing service providers. As it is one of the most comprehensive attempts from the EU to mandate data sharing between market participants, there is a lot of interest, uncertainties, confusion, and not enough research in this area. Many authors have researched certain topics (such as user rights, etc.), but not many have been focusing on the potential disputes that might arise, and how to manage and resolve those disputes. The research method used for this paper is qualitative research. The author has consulted EU laws, literature, articles, and opinions of academics and different stakeholders, to help clarify the Data Act concepts and procedure to be followed upon entry into force. Research has shown that more certainty is needed, especially on rules for the sharing of trade secrets, personal data (mixed data sets), and how to resolve potential disputes that might arise. Regarding dispute resolution, there are suggested three possible scenarios; provide clarity on existing designed dispute resolution systems, expand the scope of disputes to be handed by the dispute resolution body under article 10, or transfer the competencies of the dispute resolution body to competent authorities that will be responsible as per article 31 of the Data Act proposal.