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Originally Posted by JohnnyMo |  | | | | | | | | | I'm honestly not sure there are any real "laws" on the books about requirements for a Privacy Policy, or TOS | |  | |  | |
There are in Australia, and I'd bet there are in America (I know there are related laws - like advertising and spamming laws - plus it's just incredibly likely). It's mostly standard stuff about what information you can collect, what you can do with it, etc. - mostly pretty common sense/standard good business ethics.
I believe in the US the Child Protection Act means you can't collect personal information of anyone under 13 for example - not likely to be a problem, but relevant all the same.
I do agree that TOS, Privacy Policy, etc. isn't particularly important. Whether you have one or not, people are protected by the same laws - it's not really up to you and what you say in your policies, you are bound by law.
...but there are laws in place that stop you from doing whatever you want with the information you collect. So if you wanted to do something whacky, it might not be possible.