According to recent media reports, there has been a surge in the number of devices that are being connected to the Internet. The Internet of Things (IoT), also referred to as Cyber-Physical Systems, is a collection of physical entities with computational and communication capabilities. The storage and computing power of these devices is often limited and their designs currently focus on ensuring functionality and largely ignore other requirements, including security and privacy concerns. We present the design of a framework that allows IoT devices to capture, represent, reason with, and enforce information sharing policies. We use Semantic Web technologies to represent the policies, the information to be shared or protected, and the IoT device context. We discuss use-cases where our design will help in creating an “intelligent” IoT device and ensuring data security and privacy using context-sensitive information sharing policies.