Boards are always dealing with sensitive and confidential information, no matter if they are in business, government or nonprofit organizations. They are bound by a fiduciary responsibility to protect the interests of shareholders as well as other stakeholders, therefore they have to be able talk about issues in a relaxed manner without worrying about their decisions being revealed.

Making a secure board portal that is accessible only to people with the correct password is an essential step to keep sensitive board documents secure. It can also be Resources https://dataroomabout.com/virtual-data-room-pricing-for-getting-the-best-option/ helpful to establish policies for the safe storage and disposal of paper documents. Finaly, using a board application that permits secure sharing of files is a great method to prevent access violations.

While it might seem obvious that you should avoid putting confidential information on websites that are public, many organizations do not take this precaution. This is especially true for board meetings. A leak of confidential data can harm the image of an organization and could result in legal consequences for the company and directors.

A confidentiality agreement can be an effective tool to keep confidential documents secret. However, it is difficult to enforce. A policy of confidentiality for a board should clearly define the consequences of breaking the agreement. These could include penalties and disciplinary action. In addition it should clarify what types of information must be kept private and include security protocols, such as encryption and the use of only approved platforms for communications.