Whatever the size of the board or company, it’s essential for boards to secure confidential documents. The documents are secured to ensure that it can’t be accessed by anyone without authorization. This will prevent leaks of information that could impact the business or result in a loss in confidence.
In order to address these concerns, it is important to establish an overall policy. The policy should www.dataroomabout.com be ideally stating that directors must protect any material non-public data they receive or acquire while on the board. The policy should clearly define confidential information and include a statement that a breach of confidentiality is a breach of director’s fiduciary duties towards the company.
The policy should also specify what the board’s response to an incident. The board should, generally take into consideration a variety of options, from a formal censure of fellow directors to, in the worst case removal from the board. This will ensure that the policy will be respected and enforced whenever required.
In order to implement a robust board document security system is vital that the secretary use an appropriate board distribution and management 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 disseminating board documents. The system can also offer the possibility of setting up specific access rights for each user including printing and viewing restrictions, PDF expiry dates visible watermarks, and the ability of reviewing who has viewed the document.