Why do I need a Privacy Program?

Why do I need a Privacy Program?

There are plenty of reasons why a small business/startup may need a privacy program - not only a privacy policy.

01

Comply with the latest privacy law

For example, the California Consumer Privacy Act (CCPA) in 2020. Failure to comply can get you fined in two ways:

  1. The California Attorney General can bring civil actions for up to $2,500 for each violation of the CCPA or up to $7,500 per each intentional violation.
  2. Consumers can file individual or class actions following a data breach and recover between $100 and $750 per consumer per incident or actual damages, whichever is greater.

02

Partnership with large enterprises​

Large enterprises must conduct vendor risk assessments – if you are a vendor, having a privacy program will save you time in closing that deal.

03

Startups due-diligence

For fundraising and acquisition, startups will require a privacy compliance check.

04

Applying for Cyber liability insurance

Protecting your software business with cyber liability insurance will require you to confirm that you have an active privacy program.