Whether in person www.boardroomrecords.com/why-public-companies-need-a-board-portal/ or online In person or online, a formal gathering is a gathering of participants that meet to discuss a specific topic. These are typically highly structured events that follow certain rules of order, pre-planned topics, and clearly defined goals. They usually require an appointed notetaker, an agenda, and a particular notice sent out to participants to be considered official. In addition, formal meetings require detailed minutes that are exact transcriptions of what was discussed during the meeting and are then made accessible to everyone for later reference.

In these meetings, participants are encouraged to freely share their opinions, discuss pros and cons of various choices and share their personal views to arrive at a unanimous decision that is beneficial to the company. In many cases the decisions made during these meetings result in major corporate actions.

Moderators, also known as facilitators is typically appointed as a keeper of time to keep the formal meeting on track. They make sure that everyone stays focused on the subject at hand. It’s an excellent idea to set a date at the beginning of the meeting on how discussion will be conducted. For instance, if the participants will be taking turns speaking, it’s good to decide the length of time that each person will be able to speak and agree on rules like setting up a clock or using a timer to ensure that everyone is on the right track. Lastly, it’s helpful to send attendees an email after the meeting that summarizes what was discussed and details the next steps, or important deadlines.