Introduction: Internet of Things: Notion.- Technicity of the Internet of Things.- Economics Environment of the Internet of Things.- General Approaches for a Legal Framework: Introduction.- Self-Regulation.- International Legal Framework.- Security and Privacy: Definitions.- Security and Privacy Needs.- Privacy Enhancing Technologies (PET).- Legal Challenges for a Privacy Framework.- Responsibility for Violations of Privacy.- Outlook.- Governance of the Internet of Things: Establishment of a Governing Structure.- Legitimacy and Inclusion of Stakeholders.- Accountability.- Allocation of Critical Resources.- Internet of Things as Tool of Global Welfare: Bridging the Digital Divide.- Implementing Search Engines.- Combating Product Counterfeiting.- Tackling Environmental Concerns.- Improving Health Conditions.- Securing Food Supply.- Monitoring Compliance with Labor Standards.- Concluding Observations.