It is crucial that boards secure confidential documents regardless of the size of their board or the company. The information is secure so that it is not accessible by anyone without authorization. This will help to avoid information leaks that www.dataroomabout.com/ideals-virtual-data-room-revie could be detrimental to the company or cause a loss of trust.
In order to tackle these issues it is crucial to establish a comprehensive policy. The policy should state that directors are required to keep confidential any information that they acquire or receive when they are on a board. The policy should also clearly define what constitutes confidential information, and include a clear declaration that the breach of confidentiality will be considered to be a violation of the director’s fiduciary obligations to the company.
The most important thing is that the policy should address the manner in which the board will react to a breach. The board should, generally take into consideration a variety of options, from censure from fellow directors, to, at a minimum removal from the board. This helps to ensure that the policy is viewed seriously and enforced should the need arises.
It is vital that the secretary utilize board management and distribution program to establish a robust document security system. These systems can be set up within minutes and provide administrative controls and digital rights management (DRM) which will assist the board secretary in securely distribution of board documents. The system gives the option of setting up specific access privileges to each individual, with viewing and printing restrictions, PDF expiry date, visible watermarks, and the ability to track who has viewed the document.