And yes, your small business is required to have one if you’re collecting any sort of data – personal or anonymous. The next logical question is why is this necessary?
1. It’s the law
And if you misrepresent how you plan on using that data, you could be setting yourself up for some nasty repercussions. We’re talking hefty fines and long legal battles.
2. It provides protection from liability
This means if a customer agrees to your terms but later decides he or she no longer agrees with your data practices, you’re protected. Not to mention, putting everything out in the open enforces that your brand is a trustworthy and honest business partner. And who doesn’t stand behind that?
- A description of the data your business is collecting
- A statement on how you are collecting information
- Any information you will be sharing or disclosing with affiliates
- An explanation of how customers can update their information
- A description of how your small business protects customer data
- An easy to find and use communications opt-out
Privacy Policies the Easy Way
Privacy laws don’t exempt you from protecting a customer’s personal information based on your business’s size. And being a small business, you have a lot more to lose in a legal case than the larger corporations.
OneTrust’s technology automates the entire process so you can get back to what’s important: Growing your small business. We’re an industry leader in privacy management software. Request a demo or download the OneTrust Pro Privacy Requests and Notices datasheet today to learn more.