The idea being that is you have 1000 clients on your clinic database - when you come to sell the business - you simply multiply the number of clients by a set dollar amount - say $10 per contact - meaning that your database would be worth $10,000 of your sale price.
Can you sell a customer database?
A sale of a customer database is allowed if the customers have been informed upfront about the sale, and the customers have the possibility to object against the transfer. If they have not objected within the given term (2 to 4 weeks is considered reasonable), the personal data may be transferred to the buyer.Jul 11, 2018
How do you sell a database?
- Sell your data directly: The most straightforward method is to sell your data directly to another organization through a private interaction that either you or the other party sets up. ...
- Join a private marketplace: You can also join a private data marketplace where companies exchange data.
Is it legal to sell consumer data?
Since there are no federal privacy laws regulating many companies, they're pretty much free to do what they want with the data, unless a state has its own data privacy law (more on that below). In most states, companies can use, share, or sell any data they collect about you without notifying you that they're doing so.Sep 6, 2021
Is it illegal for companies to sell your data?
But what most do not realize is that, in the absence of a specific law prohibiting information sharing, businesses are generally free to monetize their customer databases by selling, renting, or trading them to others.
Can I sell a client list?
1) Can you sell your client list? Sure--as long as in getting those clients, you did not promise them or otherwise agree in some fashion that you would not sell or share the list. If you did, you must abide by your committment; otherwise, you're ok.Jan 25, 2011