How to Protect Confidential Documents For Boards
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Whatever the size of the board or company, it’s essential for boards to safeguard confidential documents. The information is protected so that it cannot be accessed by anyone without authorization. This will prevent leaks of information which could affect the business, or cause an erosion of trust.
In order to deal with these issues it is imperative to have an extensive policy. The policy should state that directors must protect any non-public data they receive or acquire during their time on the board. The policy should clearly define what constitutes confidential information, and include a clear explanation of why a breach of confidentiality is considered to be a violation of the director’s fiduciary obligations to the company.
The policy should also outline the manner in which the board will react to an incident. The board should, in general look at a range of options, from a censure from fellow directors to, at the very least, removal from board. This ensures that the policy is respected and enforced should the need arises.
It is imperative that the secretary install the board management 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 offer the administrative and digital rights management (DRM) controls required to assist the secretary of the board in distributing board documents securely. The system gives the option of establishing specific access privileges to each individual, including viewing and printing restrictions, PDF expiry date visible watermarks, as well as the ability of viewing who has seen the document.