Due to the increasing number of complaints alleging privacy violations against companies to data protection authorities, the translation of business goals to system design goals and the subsequent consequences for customers’ privacy poses a challenge for many companies. For this reason, there is a need to bridge the economics of privacy and threats to privacy. To this end, our work relies on the concept of privacy as contextual integrity. This framework defines privacy as appropriate information flows subjected to social norms within particular social contexts or spheres. In this paper, we introduce a preliminary version of a semantic model which aims to relate and provide understanding on how well-established business goals may affect their customers’ privacy by designing IoT devices with permission access, data acquired by sensors, among other factors. Finally, we provide a use case application showing how to use the semantic model. The model aims to be an educational tool for professionals in business informatics during the modeling and designing process of a product which may gather sensitive data or may infer sensitive information, giving an understanding of the interaction of the product and its footprint with diverse actors (humans or machines). In the future, a further complete model of the presented may also target other groups, such as law enforcement bodies, as part of their educational training in such systems.