Corporate confidentiality

[EyeFilms]

Imagine a situation where the company documentation that was confidential was shared with directors at a board meeting and was explicitly marked as confidential. Imagine if the documentation included up to date accounts, business ledger, VAT account and details of directors loans to the company as well as payments received (for loans and other expenses).

Imagine a situation where one of the directors then takes the documentation to a third party outside of the company, without consulting the other directors to try and secure independent advice on the situation within the company, and to try and secure payment for themselves from the company's assetts.

Would any laws have been broken in that situation?

 

[vvaannmmaann]

Try re-posting in the 'legal' section.You may get a response.

 

[Officebird]

Hard to say really as the Director suely has the power to show the documents to anyone he wants to, as it would have been the Director's idea to make them confidential in the first place.

Morally and ethically this would be a very bad move and I wouldn't want to be in a partnership with someone so underhand.

I think you need to get this moved to the legal section, ask one of the mods.

 

[EyeFilms]

Have reposted it in the legal section anyhow.

The director concerned is not the MD by the way.

 

[FireFleur]

Marking something confidential outside of the military and civil service does not make it confidential in the eyes of the law.

There are data protection laws, and invasion of privacy, but as a Director they have a right to access and Direct the company, so unlikely they have broken a law, especially as it looks like they took it to a professional for advice.

If they have signed something about documents marked confidential, then they can be dismissed from an employment role.

It is just business ethics here I suspect, should you show something to a third party if it has been marked as confidential and the other directors were not in agreement, no you shouldn't, unless it affects a bigger ethical dilemma.

 

[vida]

it basically depends on what the bylaws say about this action