It is vital that boards safeguard confidential documents regardless of the size of their organization or board. The information is protected so that it cannot be accessed by anyone without authorization. This will help to stop leaks of information that could affect the business or cause loss of trust.
To solve these issues it is essential to have an overall policy. The policy should state that directors must guard any material non-public data they acquire or receive https://dataroomabout.com/virtual-data-room-pricing-for-getting-the-best-option/ while on the board. The policy should clearly define confidential information, and also include a declaration that a breach of confidentiality is considered to be a breach of director’s fiduciary duty to the company.
Most importantly, the policy should specify how the board will respond to any breach. The board should, in general take into consideration a variety of responses, ranging from censure from fellow directors to, at the very least, 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 vital that the secretary install an administration and distribution software in order to set up a robust document security system. Such systems can be put in place in just a few minutes and provide the administrative and digital rights management (DRM) controls that are required to assist the secretary of the board in securely distributing board documents. The system will give the option of setting up specific access privileges to each person, such as the ability to print and view limits along with PDF expiry dates visible watermarks, as well as the ability to see who has had access to the document.
