Considering Privacy as a Public Good and Its Policy Ramifications for Business Organizations

The main objective of this study is to discuss the ramifications of considering privacy as a public good for business organizations. Using an extensive literature review, an attempt to achieve this objective is made by trying to answer the following questions: (1) What are the historical and philosophical roots of privacy? (2) How is the concept of privacy defined and what are the controversies surrounding different definitions of privacy? (3) Does an individual have a right to privacy? (4) If the answer to question three is in affirmative, what are the philosophical and legal foundations of that right? (5) How can an individual's privacy be invaded? (6) Is privacy right an individual right or does it have a societal value? (7) What are the reasons for considering privacy as a public good? Finally, the article offers prescriptive insights for organizations to successfully obtain information from consumer while respecting their privacy.