If you are a business that collects and uses personal information that can be identified to a particular person, there are privacy laws you are to answer to. Data privacy laws involve restrictions on access and use of consumer personal information.
Location, location, location.
Like with real estate, location is king in privacy law. Understanding which privacy laws apply to your business will depend on where the data is coming from. Each country has their own set of privacy laws regulating personal information. For example, personal information from Europe will be regulated differently than that from the United States. Also, each state has their own privacy regulations to protect their residents. As personal information comes from multiple places, more regulations are involved.
Follow the information trail.
A better understanding of the regulatory landscape for your business can be gained by finding answers to the following privacy questions:
- In which countries do you have employees or equipment located?
- In which countries and states do you have customers and collect their personal information?
- What regulations apply to your collection and use of personal information?
- What risks do you face for failure to comply with these regulations?
The goal is to identify what responsibilities are expected of your business when it comes to handling the personal information of your customers, employees, and others who interact with your business.
Exercise in risk management.
A growing number of U.S. states are considering comprehensive privacy legislation that provides protections to personal information similar to what is seen in Europe. There is an increasing need to determine what an organization’s data privacy requirements and risks are relative to its business strategy and goals.
The important first step is to identify and prioritize what requirements and risks your business is subject to as it relates to data privacy. This will allow for better success in undertaking compliance measures that provide value to your business.
Strobl Sharp is a team of experienced and trusted lawyers that can advise on all matters related to data privacy planning. For more information, visit Strobl Sharp online at www.stroblandsharp.com or on LinkedIn.