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My test store shows the same thing.... You aren't out of your depth -- your questions and concerns are logical! And now I have a few as well!
First let me state that Privacy Statements are a good thing and I recommend to my clients that they have one and include that in all my packages.
For this GoDaddy issue, I'm not sure why in one sentence the message states "aims to make your internet business compliant with UK and EU GDPR data privacy laws."
The EU GDPR mentioned applies to the EU and those doing business in the EU. I do not do business with the EU so I (nor you -- if you do not do business with the EU) should be bound to use a Privacy Statement that caters to that.
Then in the next statement "You are responsible for the legality of this document."
If GoDaddy is providing the verbiage and you have no choice about what is posted -- then *they* are responsible for the legality of the document. If you provide the verbiage -- then you are. As it should be.
So what Support advised is conflicting. The fact you can't know what the statement says until you go live is darn right silly.
Does it get replaced? Does GoDaddy's legalese get appended?
I know this is probably not the answer you were looking for but if you asked I bet others want to know as well. As do I.
Maybe someone who knows for sure can pipe in and clear this up?
@JulieArtist It depends on which product you are using. This topic was discussed here previously: