Business Obligation: Balancing Privacy and Confidentiality: Crucial Insights for Every Entrepreneur
In today's digital age, privacy concerns are becoming increasingly prevalent, with many individuals either confused or forgetting the significant differences between privacy and confidentiality. While they both involve safeguarding personal information, the business obligations and legal requirements for each concept are distinct.
Confidentiality, an ethical (and occasionally legal) duty, pertains to preventing the sharing of information with third parties. This principle is often associated with professional relationships, such as those between an attorney and their client, a doctor and their patient, or a priest and their confessor. In short, anything disclosed to these professionals is supposed to remain private, except in extreme circumstances like when a client intends to commit a crime or poses a danger to themselves.
On the other hand, privacy is primarily a legal issue. Based on consumer privacy laws, such as those administered by the Federal Trade Commission (FTC), individuals are entitled to a reasonable expectation of privacy against unlawful surveillance and harassment. In the realm of business and government, privacy issues are primarily concerned with handling data responsibly. Businesses must protect their customers' private information to avoid legal repercussions, as data includes sensitive information like browsing history, location, medical records, and financial information.
Businesses must establish a privacy compliance checklist to handle various privacy issues such as data privacy storage, security, minimization, consent management, transparency, right to access and correction, deletion, and data breach notification to maintain customer trust.
As a business owner, it is essential to understand the differences between confidentiality and privacy to comply with local, state, federal, and even international laws if you operate internationally. Failing to do so could result in legal action. Remember that confidentiality is primarily about ethical responsibilities, while privacy is centered around following the law.
Do you operate a business and want to ensure you're following the latest privacy regulations and best practices? The Our Website Business Council is the foremost growth and networking organization for business owners and leaders. Visit their site to learn more and see if you qualify for membership.
Ken Sterling, a seasoned business lawyer, frequently emphasizes the importance of distinguishing between confidentiality and privacy in business. During a recent seminar, Sterling highlighted that failure to comply with privacy regulations can lead to significant legal consequences, such as hefty fines and damage to a company's reputation.
Given his expertise, it is no surprise that Ken Sterling is a sought-after speaker at various business events, where he shares valuable insights on implementing effective privacy compliance strategies to safeguard both confidential information and customer privacy rights.
