Meeting a few minutes are the recognized record of board decisions https://loveboardroom.com/how-to-take-minutes-at-board-meetings/ and should be mainly because thorough as it can be. But they also need to be concise and understandable for many who weren’t present at the time. In case you over-record, you risk making a document that’s too long, or, worse yet, leaves out major decision items that can lead to misunderstanding after on—including in legal instances. Conversely, in case you under-record, you are able to open the board up to liability and skepticism from stakeholders, investors or legal agencies. So how do you reach the right harmony?
The first step is to decide what information to include in board get togethers. Luckily, the basic principles are convenient:
Date, as well as location: Your board conference minutes should always portray the important points, not any very subjective views or facets. This is especially important when disagreements arise. Ideally, anyone taking notes shouldn’t mention who was involved in any kind of discussion, but instead give attention to the disputes and the standpoint. If a particular director desires their personal opinion noted, that is alright, but it must be an optionally available extra and not the norm.
Similarly, it’s vital that you note the moment votes take place – however, avoid naming individuals. That is less with regards to privacy causes than to avoid pointing fingertips and presenting a very subjective tone inside the minutes. However , for significant topics such as economic transactions or executive spend, it’s normally a good idea to include just how individual members voted and the rationale.