Privacy by design essential for organizational accountability and strong business practices

Summary: The proposition that "privacy is good for business" is one that is enshrined in all Fair Information Practices (FIPs) around the world and, through them, in the many laws and organizational practices upon which they are based. By setting out universal principles for handling personal data, FIPs seek to ensure the privacy of individuals and to promote the free flow of personal data and, through them the growth of commerce. The enduring confidence of individuals, business partners and regulators in organizations' data-handling practices is a function of their ability to express the FIPs' core requirements. These are: to limit collection, use and disclosure of personal data; to involve individuals in the data lifecycle, and to apply appropriate safeguards in a thoroughgoing manner. These requirements, in turn, are premised upon organizational openness and accountability. The ultimate results - which are highly desirable - include enhanced trust, improved efficiencies, greater innovation, and a heightened competitive advantage. Privacy is good for business.