No matter the size of the board or the company, it is essential that boards safeguard confidential documents. The information is secured so that it cannot be accessed by anyone without authorization. This helps to keep information from being leaked that www.dataroomabout.com/how-to-protect-confidential-documents-for-boards-committees-of-association could be detrimental to the company or cause a loss of trust.
To deal with these issues it is essential to have a comprehensive policy. The policy should be ideally stating that directors are required to keep confidential any information that they acquire or receive while serving on an advisory board. The policy should clearly define confidential information, and include a statement that a breach of confidentiality is considered to be a violation of a director’s fiduciary obligations to the company.
Most importantly, the policy should specify the manner in which the board will react to a breach. Generally speaking, the board should consider the various responses, from censure by fellow directors to, in extreme circumstances removal from the board. This will ensure that the policy is viewed seriously and will be enforced in the event that the need arises.
It is imperative that the secretary use a board management and distribution program to establish an effective document security system. These systems can be set up in a matter of minutes and offer administrative controls and digital rights management (DRM) which help the board secretary in safely dispersing board documents. The system can also offer the possibility of setting up specific access rights for each individual such as viewing and printing limitations, expiry dates for PDFs visible watermarks, and the ability of reviewing who has viewed a particular document.
