Privacy is a key emerging issue in Internet Governance processes. Looked upon most often as an area of risk and protection, it is in this paper viewed as an area of opportunity and innovation. A paradigm shift is on its way. This entails a shift in focus where the legal protection of privacy rather than being described solely as an area of governance, policy making and basic human rights guarantee, or as an obstacle to innovation and sharing, can be viewed as the foundation for the evolution of digital media businesses that more critically understand digital media as an evolving architecture of human social relations, and privacy as a new basic market demand. Privacy is core to an ethical evolution of the internet, but it is increasingly also a business model and business opportunity in its own right.

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