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Part 8 of the Startup Playbook Series.
In part 8 of the Startup Playbook Series, we take a high-level look at privacy and data rights.
We’re big on data
With the explosion of data being so shareable and available, the law is catching up and placing big obligations on everyone who collects people’s information. From updates to Australia’s Privacy Act, which came into force in the 80’s, to the ongoing challenges of figuring out whether the GDPR applies to you, regulators and legislators are increasingly becoming aware of, and trying to mitigate, the risks of unprotected data.
The guidelines and principles are clear but can be difficult to navigate on your own. If you have the proper processes to begin with, you’ll be able to scale with peace of mind.
Using offshore developers or marketing to overseas customers can add some additional hurdles, and we can help you work out each privacy law’s application to your startup and business model.
Privacy and Data: Checklist
- Are you collecting information from your customers? What will you be using the information for?
- What type of information are you collecting? Is it sensitive?
- Do you want to be able to contact those people again?
- Do you want to be able to store that information overseas?
- Do you want to be able to make money from that information?
- Do you want to be able to share that information with other people?
- Who is hosting your information server?
- What happens if there is a security breach?
If you are running a SaaS product or any kind of online platform, it’s important to be aware of the geographic location of your users as well as their age. Privacy laws vary from region to region, and it will take awhile for harmonisation of laws across the globe.
As of 2022, the Australian privacy laws are being amended, and 2 further releases of amendments will be made. Because privacy laws change every few years to keep up with new technologies, you should revisit your privacy program and policies every year to make sure that you are not unintentionally breaking laws in regions where you may have built up a large consumer base.
Stay tuned for more content on privacy and data protection programs for startups, or get in touch with the Burch&Co Startup & Capital team to start creating your customised privacy and data protection strategy and compliance program.