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Why invest in privacy?

Picture-39It's easy to make headlines by offering grand statements
that privacy is dead.  Millions of
users certainly are sharing a lot of very personal information, stories,
pictures, and data online everyday. 
So why should a company or any other institution invest their limited
time and resources in thinking about privacy?

Because carefully considering privacy issues early on can
save you significant headaches later. 
First, there are dozens of national and international laws and
regulations that cover data collection, and if you are not in compliance with
those laws you can have serious problems. 
Second, if you aspire to get funded, acquired or go public, you want to
build your data collection architecture so that privacy issues do not create a
roadblock when you least expect it. 
 

And finally, the truth is no one really knows where your
users will draw the line when it comes to your use of their data.  It simply makes good business sense to
consider the implications of your decisions early and often, as your innovate
in technology, as new business models develop or as new corporate directions
evolve.

Personally, I think people care about privacy a lot more
than the anecdotal evidence of the moment suggests. Successful businesses
building sustainable and innovative products are those that are ready to answer
the tough questions, whether asked by their investors, the press or their
users, and to evolve their privacy strategy to complement their business
strategy.

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