15 Aug Corporate Governance

1.Did you know that Directors on the board of directors of a company owe a fiduciary duty to the shareholders or members of the Company? A Company cannot indemnify a Director and insurance purchased to protect a Director will not cover certain types of breaches of a Director’s fiduciary duty. Sound corporate governance is important not only for the health of the company but the protection of the Directors. For help with the corporate governance of your company call Cook Sadorf Law.

2.Did you know there are at least three good reasons to practice sound corporate governance? To protect the company from attempts by creditors to pierce the corporate veil; to minimize the risk of taxing authorities doing the same; and to minimize the risk of liability as a result of shareholder/member suits. For help with the corporate governance of your company call Cook Sadorf Law.