It doesn’t matter if it’s for business, government or nonprofit organizations, boards deal with confidential and sensitive information on a regular basis. They are obligated to safeguard the interests and interests of shareholders, so they need to be capable of discussing sensitive issues without fear of their decisions being revealed to the public.
A secure board portal which is only accessible to those who have the correct password is the best way to ensure that your board documents are secure. It can also be helpful to develop policies that ensure the safe storage and disposal of physical paper documents. Additionally, using a board app that allows secure sharing of documents can be a great way to prevent access violations.
Many organizations fail to follow this rule, even though it may appear obvious. This is especially true of board meetings. Unsolicited leaks of confidential information could damage the reputation of an organization, and it can even result in legal ramifications for the directors of the company as well as the company.
A confidentiality agreement is a crucial tool for keeping secret documents private, but it can be difficult to enforce. A board’s confidentiality policy must contain clear penalties for those who violate the terms of the agreement, such as fines and disciplining actions. It should also define the kinds of information that need to be kept confidential and include security protocols like encryption, and only utilize approved platforms for communications.