Toysmart.com can sell customer list Privacy from Companies7/23/2000; 7:31:45 PM The Federal Trade Commision has ruled that Toysmart.com can sell their controversial customer list, as long as the buyer agrees to follow the original Toysmart.com privacy policy.'Under the settlement agreement, Toysmart will file an order today in Bankruptcy Court ("Bankruptcy Order"), prohibiting Toysmart from selling the customer list as a stand-alone asset. The settlement only allows a sale of such lists as a package which includes the entire Web site, and only to a "Qualified Buyer"-- an entity that is in a related market and that expressly agrees to be Toysmart's successor-in-interest as to the customer information.'The Qualified Buyer must abide by the terms of the Toysmart privacy statement. If the buyer wishes to make changes to that policy, it must follow certain procedures to protect consumers. It may not change how the information previously collected by Toysmart is used, unless it provides notice to consumers and obtains their affirmative consent ("opt-in") to the new uses.'I still don't like it. Customers gave Toysmart.com information predicated on the promise that it would never be used by Toysmart.com, and now it will be. The customers have still been lied to, bankruptcy considerations or no.On the positive side, the buyer will have the only legally enforcable privacy policy on the planet; they will the be the only company that won't be able to simply change it on a whim. If they do, then they'd be in violation of the conditions of purchase. Always look for the silver lining (Pas coverage)