A properly written Privacy Policy tells customers what data you collect about them when they engage with your business (e.g., through your website) or purchase one of your products/services, and why you’re collecting that information. It also lets people know how long their information will be stored, who can access these records and more.
So, a good Privacy Policy should outline what data is being collected and explain why you’re collecting it, who has access to it, and the time frame during which you plan to store it. It should also include any third parties with whom your company shares personal or private information, as well as any steps taken to ensure the security of such information.