Editor's note: William Boeck is Insurance & Claims Counsel, Lockton Financial Services at Lockton Cos.

Selling your company or its assets? These days, it seems certain that litigation is sure to follow. If your company holds the personal data of customers and has made promises in its data privacy policy about not selling it, then you may be hearing from the Federal Trade Commission (FTC). You won't enjoy it.

Companies doing business on the Internet typically have privacy policies explaining how the company will collect and use consumers' personal information. Various state and federal laws require them. Those privacy policies often contain language to the effect that the company will not give the information to any third party without the consumers' consent.

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