I've been wishing for something more along the lines of open source licenses. GPL might be a complicated contract but once you know it, all you need is 3 letters to describe it. You've still got the option to write up your Special Snowflake 1.0 license, but most products won't need that or want it, so a few common contracts emerge and then we don't all need to skim pages of legalese (subject to change at whim) every time we visit a new website.

A standard could certainly contribute to informed consent by the people who purchase/use devices. It's a complex concept to summarise and distill into iconography though.

(See also my comment to parent post.)