Privacy lawyer, Greg Ramsay, joins us on the show for the second time to dive deep into the world of privacy law. You might be wondering, what is privacy law? How do these laws apply to me and my company? Why should entrepreneurs and executives care?
Privacy law is a hot subject right now. Especially as many countries and states are revamping their current privacy laws.
“I’m also a tech entrepreneur myself, so not only do I advise clients on this, I really understand it from the business side too because I am living in it as well and figuring it out for my own business.” — Greg Ramsay [0:03:31]
Greg shares first-hand knowledge of why privacy should be a top priority for companies and individuals. Greg has worked with various companies to develop privacy programs that meet the legal requirements applicable to their industry. His clients include fin-tech, e-commerce, clean-tech, and more.
He discusses how new privacy laws will influence the future. As well as how Canada is moving from a consent-based approach to privacy to focusing on rights.
“The consequences of having a data privacy breach are quite large. Not only are we looking at potential fines that are compounding under the new laws, but there’s that reputational risk as well. You don’t want to be in the news.” — Greg Ramsay [0:11:46]
We touch on how data can be used for good, the typical process of building a privacy team, and examples of privacy policies that work.
You'll hear valuable information as well as takeaways in this eye-opening episode. Thanks for listening.
KEY POINTS FROM THIS EPISODE:
Some of the questions covered in today’s conversation with privacy lawyer, Greg Ramsay.
A definition of privacy law
Why privacy matters for companies and how it can have a material impact.
How new privacy laws will amp up the associated fines.
The consequences of having a data privacy breach.
Examples of what constitutes personal information.
How consumer habits relate to privacy law and how profiling relates to this.
The movement from a consent-based to a rights-based regime in Canada.
The benefits of using data for good.
What it looks like to build a privacy team at an organization.
The importance of bringing tech people into a conversation.
Easy to follow privacy practices at Hubspot and Hootsuite.
New categories of personal information: de-identified and anonymized.
Advice to users on navigating the changing environment.
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LINKS MENTIONED IN TODAY'S EPISODE: