Formal meetings can be held in person or on the internet. They are a gathering of people who have come together to discuss a subject. These are usually highly structured events that follow certain rules of order, pre-planned topics, and clear objectives. To be considered official they usually require a notetaker as well as an agenda. Additionally formal meetings need to be documented minutes of meetings that are exact transcriptions of what was discussed during the meet and are later made available to all to refer to later.

During these meetings, participants are encouraged to freely share their opinions as they discuss the pros and cons of several options, and provide their own opinions to arrive at a unanimous decision that is best for the company. In a majority of cases the decisions made during these meetings result in major corporate actions.

Moderators, or moderators, is usually assigned as a keeper of time to keep the formal meeting on course. They also ensure that everyone stays focused on the issue at hand. A good practice is to decide how the discussion will take place at the beginning of the meeting. If participants are speaking in turns it’s recommended to agree on a set of rules such as setting up a timer and/or a clock to ensure everyone is on the same page. Additionally, it’s beneficial to send attendees an email after the meeting that summarizes the discussions and details the next steps, or important deadlines.