Regardless of the size of the board or company, it’s essential that her response boards safeguard confidential documents. This means that the information cannot be accessed by anyone who is not authorized to access it. This will prevent leaks of information that could impact the business or cause an erosion of confidence.
A comprehensive policy is essential in addressing these issues. It is ideal for the policy to stipulate that directors are bound to keep confidential any non-public information they acquire or receive while serving on the board. The policy should clearly define confidential information and also include a declaration that a breach in confidentiality is an infraction of the director’s fiduciary duties towards the company.
The policy should also address what the board’s response to an incident. In general the board should be considering the various responses such as censure from fellow directors or, in extreme cases removal from the board. This will ensure that the rules will be respected and enforced whenever needed.
It is crucial that the secretary use an administration and distribution software to implement an effective document security system. These systems can be set up in a matter of minutes and offer administrative controls and digital rights management (DRM), which are essential to assist the secretary of the board in securingly distributing the board documents. The system can offer the option of setting up specific access rights to each individual, including printing and viewing limitations and PDF expiry dates visible watermarks and the ability to see who has been viewing the document.