Privacy and terms of use policies seem to be in constant state-of-flux due to various legal jurisdictions often updating requirements for businesses that operate in their area. Keeping up with all the changes is challenging, to say the least. 

For the past few years, DrupalEasy has been using Termageddon.com to help keep our various site policies current. To get started, we provided Termageddon with some details about our business and what type(s) of policies we were looking for. The service then provided us with some HTML/Javascript code snippets that we include on our various policy pages that automatically pull up-to-date content from Termageddon. 

While we are notified each time one of our policies change, it all happens automatically. This notification gives us the opportunity to review the changes and discuss with our legal representation, if necessary.

Using a service like this is not a replacement for legal representation - consider it a supplement, at best. 

If you're unsure if  your site requires a service like this, then it is worth your time investigating. If your site captures user data in any manner (contact forms, Webforms, analytic tools), it probably is a good idea to have a sound set of policies. Termageddon can help make the process of setting up your site's policies easier.

DrupalEasy is an affiliate of Termageddon.com and receives consideration for client referrals.