Are you reliant on third party suppliers and service providers?
What do Target, Wyndham Worldwide, Home Depot, Capital One, Zoom, LabCorp and other companies have in common? They all suffered cybersecurity episodes leading to lawsuits, some involving third party suppliers and service providers’ breaches.
Given the need to work with third parties, how does a company protect itself? Among others, here are some things to consider:
1. Do your due diligence and have a very detailed and careful vetting system when choosing third parties. Look at their privacy and data security systems.
2. Work with Privacy Law professionals to make sure your company and third parties are compliant.
3. Be transparent with your policies
4. Look into potential insurances and/or indemnifications.
5. Copy and past policies don’t usually work to protect your business and consumers.
Best business practice is to be legally compliant with Privacy Laws for your business, and work with third parties that are also compliant.
Friendly reminder: Substantiation + transparency = TRUST! Having legally compliant marketing campaigns builds trust. Any question? Feel free to contact me. https://calendly.com/audrey-advertisinglaw/30min
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