How to Protect Confidential Documents For Boards

Boards are always dealing with sensitive and confidential information whether they are in business, government or non-profit organizations. They have a fiduciary duty to protect the interests of shareholders as well as other stakeholders, which is why they have to be able discuss issues without advice on virtual data room pricing for getting the best option fearing about their deliberations being publicly and exposed.

Making a secure board portal which is only accessible to those with the correct password is a crucial step to ensure that sensitive board documents are safe. It is also beneficial to establish policies for the safe storage and disposal of physical paper documents. Additionally, using a board application that allows secure sharing of documents is a great method to prevent access violations.

Many organizations fail to follow this rule despite it seem obvious. This is especially true of board meetings. A leak of confidential data can harm the image of an organization and may even result in legal consequences for the company and directors.

A confidentiality agreement is a crucial tool to keep confidential documents confidential, but it can be difficult to enforce. A policy of confidentiality for a board should clearly define the ramifications of breaking the agreement. These could include fines and disciplinary action. It should also outline the types of information that need to be kept confidential and include security protocols like encryption, and only utilize approved platforms for communications.