Offering Data Privacy as a Competitive Edge

February 4, 2015 by Nicholas R. Merker, Partner
Ice Miller can help innovators overcome critical challenges to grow successful agribusinesses. Learn more about the unique business and legal challenges facing food and agricultural innovators and how to protect and grow that innovation in our 2015 Agribusiness Guide. An excerpt follows: 

Additionally, with data privacy being a key issue for producers, ATPs may want to consider using strong information privacy and security practices as a competitive edge against other ATPs who are less committed. For example, the startup social network ello is garnering excitement from its user community by promising an ad-free experience when all of its competitors make the bulk of their money through advertising revenue. ATPs can take a similar approach and highlight their commitment to the Principles as a marketing tool. If a producer is given the choice between an ATP with contract terms and policies that clearly match the Principles versus an ATP that has not considered these issues, the producer may be inclined to choose the privacy-focused ATP.
 
Information privacy and security are clearly important considerations to producers and ATPs. The agriculture industry has taken a great leap in demonstrating a commitment to quality practices in this area by establishing the Principles, and it is up to this industry as a whole to implement what has been agreed upon.
 
In 2014, the Fortune 1000 will spend roughly $2.4 billion on managing privacy, with an average of $76 per employee, or $204 per $1 million in revenue. If your organization has not taken a deep look into how the Principles will impact your business, consider reaching out to counsel and/or privacy professionals for assistance in getting started. If your organization has an established privacy program, you may also want to audit your program against the Principles to make sure it is up to date with what your customers expect.


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