Privacy as an Asset

Many attempts to define privacy have been made over the last century. Early definitions and theories of privacy had little to do with the concept of information and, when they did, only in an informal sense. With the advent of information technology, the question of a precise and universally acceptable definition of privacy in this new domain became an urgent issue as legal and business problems regarding privacy started to accrue. In this paper, I propose a definition of informational privacy that is simple, yet strongly tied with the concepts of information and property. Privacy thus defined is similar to intellectual property and should receive commensurate legal protection.