Personal business refers to the activities or things that a person considers private. These may include small-scale or even side businesses that people are pursuing to earn extra income. This is usually a great idea, since it promotes work-life balance and permits people to pursue interests that are not professional activities. It also might relate to family issues or personal obligations for eldercare or childcare.
The legal definition varies from one privacy law to another however the fundamental idea is the same: All data that identifies a person or household must be considered personal. This includes basic information such as names or more intricate data such as biometric and geolocation tags. Businesses must understand the importance of personal data to ensure they adhere to all applicable laws.
Data must be able to be tied to a specific person in order to be classified as personal. Companies must be clear about their intentions when collecting data and seek consent prior to doing so. They must restrict the amount and types of data collected, and only keep it for as long as necessary.
In the United States a personal business is a company that is run and controlled by a single person, rather than if it’s incorporated or a partnership. This means that the owners’ personal assets can be used to recoup liability and debts however this isn’t always a ideal situation for small businesses which have limited resources.