For the purposes of this exercise, once again assume you are working as a compliance specialist at the fictional Secure Labs on Demand company. At the instruction of the Chief Information Officer, your team has also been tasked with refreshing the organization's user Privacy Policy. Before drafting the refreshed policy documentation, you have been asked to conduct research on contemporary best practices for Privacy Policies.

Using the Internet, research user Privacy Policies, then identify at least five common policy statements and explain their significance. Be sure to cite your sources.