An apparatus, system, and method are disclosed for sharing referenced content through collaborative business applications. The method includes detecting referenced content in an electronic communication. The referenced content references content stored in an external repository. The referenced content identifies a registered external repository connector. The method also includes determining that an Access Control List (“ACL”) for the referenced content lacks an entry for a recipient of the electronic communication. The method includes generating an ACL entry for the recipient in response to the recipient lacking an entry in the ACL for the referenced content. The ACL entry controls access to the referenced content for the recipient. The ACL entry is defined based on a security policy associated with the recipient.