This paper presents the building blocks of an economic governance regime for the social commons of data that can contribute to decentralizing the benefits of the digital economy. The enclosure of data by platform monopolies not only creates a skewed, exclusionary marketplace, but also represents a huge opportunity cost in terms of the unrealized public and social value of data. Emerging approaches to data governance – both, individualist and collective – do not go far enough in addressing this challenge. This paper argues that only a semi-commons approach can effectively reorder the digital economy to achieve a much needed distributive integrity