Category: Duties

The rights, duties, and obligations of officers, directors, and shareholders of a small corporation.

What is the "business judgment rule"?

Can a director be liable for making bad decisions? The business judgment rule is a legal concept relied upon by courts who refuse to review the actions of a corporation’s board of directors in managing the affairs of the corporation...


Do you really want to be an officer or director?

Sometimes people are asked by a friend or relative to be an officer or director of a corporation. This may seem like an honor and a good opportunity, which it might be. However, you should be aware that officers and...


Who are the main people involved in a small corporation?

In corporate law, there are several different categories of people involved with the corporation. In small corporations, it is common for the same people to function in several positions or capacities. They just wear different hats, so to speak. In...