In this summary, we will explore the concept of Internet of Things (IoT) and its significance in our daily lives. IoT refers to the connection of devices, gadgets, and appliances to the internet, allowing them to communicate with each other and provide a seamless user experience. This technology has transformed various industries such as healthcare, finance, and retail. In this context, we will discuss the different connectivity models for IoT devices, including Device-to-Cloud, Device-to-Gateway, and Data Sharing model. Additionally, we will explore the security and privacy issues associated with IoT devices, which include Open Perception, Powerlessness to Hacking, Software Update, Shielding your information from owner companies, Too much data collection, Undesirable public profile, Intrusion, and Shopper Confidence. Finally, we will discuss solutions to these security and privacy issues, including creating strong passwords, purchasing IoT products from trusted owners, updating software/hardware products, encryption of data, implementation of Secure Sockets Layer (SSL), and Product lifecycle management.