Boards are always dealing with sensitive and confidential information whether they are in business, government or nonprofit organizations. They are accountable to safeguard the interests and stakeholder interests of shareholders. Therefore, they must be capable of discussing sensitive issues without fear of their deliberations being revealed to the public.
The creation of a secure portal for boards that is accessible only to those with the correct password is a key way to ensure that board documents are safe. It can also be helpful to develop policies that ensure the safe storage and disposal of physical documents. Additionally, using a board application that allows secure sharing of documents can be a great solution to ensure that access is not violated.
Although it is obvious that you should not post confidential information on websites that are public, many organizations fail to take this precaution. This is particularly true for board meetings. Unsolicited leaks of confidential information can damage the reputation of a company, and it could even result in legal ramifications for directors and the company.
A confidentiality agreement can be a useful instrument to keep secret documents secret. However, it is difficult to enforce. A policy of confidentiality for a board should clearly define the ramifications of violating the agreement. This could mean sanctions and fines. In addition it should specify what types of information needs to be kept confidential and include security protocols like encryption and the use of only approved platforms for communications.
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