In the United Kingdom and the Isle of Man the term “institute” is a protected word. Organisations may only use the word if they are “organisations which are carrying out research at the highest level or to professional bodies of the highest standing”. NEDonBoard became the Institute of Board Members in 2020 on its own rights. The Institute of Board Members oversees the knowledge, skills, conduct, practice of non-executive directors and board members. The Institute is a not-for-profit organisation.