Privacy! Privacy? Privacy?!

Privacy! Privacy? Privacy?!

There we go, that pretty much sums up the industry attitude regarding privacy policies. Some are surprised by how important a role it is playing in every sphere today. Some are not quite clear what it really entails and how these policies impact their firm/organization, while others are somewhere in between and just going with the flow.

Fact of the matter is that online privacy policies today, are here to stay and are an integral part of the fabric of any online service, internet start up or organization.

We are increasingly living, working and playing in a world which is virtual/online and our unique personal data, including personal information, usage habits, socio-economic back ground, buying trends etc are all up for grabs and have significant economic value.

This data can be used, abused and traded as a commodity; Which is where protection of personal data and consequently application of a concrete and transparent privacy policy comes in.

From a consumer perspective, issues regarding privacy with major tech giants such as google and facebook, incidents like the wiki leak episode have brought to the forefront the crucial role that well thought out privacy laws/policies play in today’s information based market economy.

At a regulatory level, the Federal Trade Commission has unveiled a privacy report which puts forth proposals for consumer privacy keeping in mind advancements in technology; the Department of commerce recently revealed a report envisions a privacy bill of rights, calling for overhauls of data breach, and electronic communications laws. These proposals are a clear indication to the market, especially in the realm of social media to sit up and take note.

I have a background in law. But a  knowledge of the  company’s privacy principles can no longer be confined to the legal department of an organization. Every employee should understand their organization’s stance on the privacy issue. It is that important.



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