Fair information practice is a set of rules that help companies and organizations protect your personal information.
Imagine that your crayon collection is your personal information, and you don't want just anyone to use your crayons. Fair information practice is like a list of promises your grown-ups make to keep your crayons safe.
One of these promises is that they will tell you if they want to use your crayons and why. This is called notice. Another promise is that they will only use your crayons for a good reason, like helping you with your art project. This is called purpose specification.
Sometimes, your grown-ups might need to share your crayons with someone else, like when you have a friend over to color. Fair information practice means they will only share your crayons with someone else who promises to keep your crayons safe too. This is called data sharing.
Lastly, fair information practice also means that your grown-ups will make sure your crayons stay the same way you left them, just like how companies promise to keep your personal information correct and up to date. This is called data integrity.
So, fair information practice is like a set of rules that companies and organizations promise to follow to keep your personal information safe and protected, just like how grown-ups promise to protect your crayon collection.