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Privacy, Please The importance of having a sound privacy policy

By Mark Henricks

Opinions expressed by Entrepreneur contributors are their own.

Even before TicketsNow.com went live, Bob Kopsell made sure theWoodstock, Illinois, vendor of event tickets had posted its privacypolicy. "Because the Internet has the capability of gatheringso much information about people, it was necessary to let them knowwhat information we were gathering, why, and what we were going todo with it," says Kopsell, chief information officer of thestart-up.

Privacy policies make good business sense. Two of three shoppersworry about privacy when online, according to a 1999 study byForrester Research. Web users with serious concerns about privacyusually don't shop online at all, and those with moderateconcerns spend 21 percent less than shoppers who don't worryabout privacy, Forrester found.

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