Eternity Law International News Real time business

Real time business

Published:
February 25, 2020

CONFIDENTIALITY

The issue of disclosing personal customer data in business in real time is always relevant. Many companies that have neglected this issue have now ceased to exist.

It’s all about losing reputation and customer confidence.

So it turns out that confidentiality is a prerequisite for the stable development of the business. Especially when it comes to its online format.

ATTENTION ON TRUST

Why are some companies developing successfully while others are forced to close? The reason is customer trust.

An ordinary representative of the company will not cooperate with the company, especially when it comes to e-business, if it is not sure of its stability and reliability.

In fairness, it is worth noting that the practice of geolocation, tracking the interests of a particular client, and similar decisions are currently being seriously criticized. Yes, at the first stage, such decisions received a positive assessment.

But now we can say that there is much more negativity.

Practice shows that not every user is familiarized with a document on the right to track his location (for example, we are talking about a license agreement and similar acts) before putting a “tick” on consent.

As a result, a person agrees to the collection and transfer of personal information. Naturally, this phenomenon could not but cause public resonance. A growing number of users are blocking access to their personal data.

Naturally, this development of events is not to the liking of entrepreneurs. A search for a constructive solution is currently underway.

It is about creating and approving detailed rules and regulations that are responsible for maintaining the confidentiality of each client’s data. Now this problem has reached the world level.

SUCCESSFUL DEVELOPMENT OF COMPANIES UNDER CONDITIONS OF PRIVACY

Practice shows that completely fail to use information from customer profiles will fail. The whole secret is that these data help in solving managerial issues.

It is also about adjusting the services provided, expanding the assortment and similar issues, the solution of which will help in the development of the company. It is worth looking at the situation from the perspective of an ordinary buyer.

Few people will like that company employees can track the purchase history or location of a customer. This causes a natural sense of danger and mistrust.

This situation literally forces e-commerce representatives to rethink their principles of work. In particular, it is about adhering to the policy of anonymity.

Moreover, each client should have the opportunity at any time to get acquainted with the features of the company’s policy in this regard. To clearly understand to what extent the protection of his personal data is implemented.

BUSINESS IN REAL TIME. HOW NOT TO VIOLATE CLIENT RIGHTS

Since 2018, the issue of protecting the personal data of each client has gained worldwide importance. This year, the corresponding law was passed, thanks to which many entrepreneurs radically revised the mechanism of interaction with each client.

The law clearly spells out who and to what extent can collect personal information. In addition, we are talking about the most stringent requirements for the conditions of its storage. The same situation with the transfer of information.

For violation of any of the points of the law, a very, very serious responsibility is provided. The easiest option is a fine. If we talk about a global and systematic violation of human rights, then sanctions are indispensable.

Their scope and features are considered in the relevant legal authority.

The current situation literally requires every entrepreneur working in real time to pay attention to the paperwork regulating the protection of personal data of his clients.

Those who are just trying their hand at e-commerce should pay attention to the need to comply with all of the above requirements.

This is a real chance to earn the trust of customers, which subsequently will have the most positive effect on the development of business.

Our company is based on experience with this sphere and Eternity Law International specialists will be happy to рrovide you with assistance in resolving this issue.

You could be interested

OECD - Cook Islands

On 28.10.2016, in the OECD headquarters in Paris, Mr. Andrew Haig who is Cook Islands Internal Tax Collector, signed the multilateral convention as for mutual administrative assistance in tax matters. As of today, this Convention is the most powerful instrument for international tax cooperation. It provides all forms of administrative assistance in tax matters such...

Company registration in France

More recently, France was ranked among those states that offer not the easiest conditions for the creation and development of commercial projects by foreign entrepreneurs. To remedy this situation, government agencies have focused all their efforts on laying a solid foundation for investors to act openly and freely. Now, France is trying to attract as...

Benefits of being licensed in New Zealand as FSP

New Zealand is a preferable business center for FSPs (financial services providers), since it features many benefits over other countries, ensuring low operational expenses and confidence to clients on board. To conduct its activity, New Zealand FSP is obliged to apply for official permission for operation. Main peculiarities of FSP license The status of New...

Completion of large banks merger brings clarity and stability

In the ever-evolving landscape of the economic sector, mergers and acquisitions often stand as significant milestones that have far-reaching implications for both the institutions involved and the broader economy. The recent completion of a large-scale merger involving prominent banks has brought forth a sense of clarity and stability in an industry that has seen its...

Ready-made company in Romania

The nation has undergone several reforms to facilitate commercial operations and draw international investment since entering the European Union. Romania is therefore one of Europe’s most promising countries for foreign investors, while many other customers prefer quicker transactions and the purchase of ready-made businesses. What is a “ready-made” company in Romania? When someone has a...

Forex Broker License in Cyprus

Forex-trading is making money on currency exchanging deals. Forex-market exists globally and its turnover exceeds millions of dollars. Cyprus is one of the first countries to legalize Forex trading and has gone to great lengths to keep traders safe by offering them quality, greatly-full and strict regulation. However, despite the severity of certain points of...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Washington

1629 K St. Suite 300 N.W.

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7