How to Protect Confidential Documents For Boards

It is crucial that boards safeguard confidential documents, regardless of the size of their organization or board. The information is secure so that it is not accessible by anyone without authorization. This will help to prevent information leakage that may harm the business or lead to a loss of trust.

A comprehensive policy is essential in addressing these issues. Ideally, the policy should clarify that directors are obliged to keep secret all non-public information they receive or acquire while on the board. The policy should clearly define confidential information, and also include a declaration that a breach in confidentiality is an infringement of director’s fiduciary responsibilities to the company.

Most importantly, the policy should address the manner in which the board will react to a breach. The board should, in general be able to consider a variety responses, ranging from a formal censure of fellow directors, to, at a minimum, removal from board. This helps ensure that the policy is taken seriously and will be enforced in the event that the need arises.

It is imperative that the secretary use an administration and distribution software in order to www.dataroomabout.com/advantages-of-having-a-virtual-data-room/ set up a robust document security system. These systems can be set up within minutes and provide administrative controls and digital rights management (DRM) that are needed to assist the secretary of the board in securingly dispersing board documents. The system can also give the possibility of setting up specific access rights for each user such as viewing and printing limitations, expiry dates for PDFs visible watermarks and the ability to view who has seen a document.