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Guide to Directors and Officers for Private Companies – Sixth Edition

January 2, 2020

By Michael Henry

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Legal Formality or Competitive Advantage?

Every company needs a board of directors but is it just a legal formality or could good governance also be a competitive advantage in business?

In this guide, we recommend that owners embrace an active board of directors and more broadly good governance as a competitive advantage. We describe the benefits of active directors, how someone qualifies to be a director or officer, the roles of directors and officers, how a director or officer is elected or resigns, the key duties of directors and officers, their potential liabilities and best practices.

By applying these insights, we hope that owners, as well as directors and officers themselves, will build more resilient, more strategic and ultimately more successful businesses.

This is a complicated and evolving area of law. This guide provides a general overview, but it is not exhaustive, and it is not legal advice. For advice on your particular situation, please contact us.

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