This deliverable is a preliminary guide to the main challenges and opportunities concerning ethical and societal values, as well as fundamental and privacy rights within the STRATEGY project. In particular, it describes ethical, legal and privacy concepts and principles that should be taken into account by the project’s partners in the course of the project. These principles should inform the work on developing the STRATEGY pre-standardisation framework and the design and implementation of the project’s outcomes. These issues will also inform the ethics and privacy impact assessment of the project that is the main aim of Task 1.4. At the same time, the consortium partners will ensure that the project’s framework, the (pre)standards and the tools will be developed with an ethics-by-design approach. This Impact Assessment approach ultimately benefits individuals as rights bearers, organisations with compliance obligations and society as a whole.