An Overview of Fiduciary Duties
Oil & Gas M&A Portal | Providing Access to a Library of Insight
An Overview of Fiduciary Duties
February 2016
Latham & Watkins operates worldwide as a limited liability partnership organized under the laws of the State of Delaware (USA) with affiliated limited liability partnerships conducting the practice in the United Kingdom, France, Italy and Singapore and as affiliated partnerships conducting the practice in Hong Kong and Japan. The Law Office of Salman M. Al-Sudairi is Latham & Watkins' associated office in the Kingdom of Saudi Arabia. ? Copyright 2016 Latham & Watkins. All Rights Reserved.
Oil & Gas M&A Portal | Providing Access to a Library of Insight
Target Company Board Process ? In General
February 2016
Latham & Watkins operates worldwide as a limited liability partnership organized under the laws of the State of Delaware (USA) with affiliated limited liability partnerships conducting the practice in the United Kingdom, France, Italy and Singapore and as affiliated partnerships conducting the practice in Hong Kong and Japan. The Law Office of Salman M. Al-Sudairi is Latham & Watkins' associated office in the Kingdom of Saudi Arabia. ? Copyright 2016 Latham & Watkins. All Rights Reserved.
What does the board of directors do?
? Fundamental principle of corporate law:
? "The business and affairs of every corporation organized under this chapter shall be managed by or under the direction of a board of directors...." (DGCL ?141(a))
? Directors serve as agents to the owners of the corporation (stockholders)
? Directors do not directly manage the business of the company, but they are ultimately responsible for the management of the corporation
? The Board discharges its duties by appointing and supervising officers who run the day-to-day operations
? Officers are subject to the same duties as directors
Oil & Gas M&A Portal | Providing Access to a Library of Insight 3
How do directors fulfill their role?
? The Board should be informed about the business, including results of operations, and should understand the company's strategies and corporate plans
? The Board should be involved in and approve major decisions for the corporations (such as entering into significant transactions)
Oil & Gas M&A Portal | Providing Access to a Library of Insight 4
What are the directors' duties to the corporation and the stockholders?
Two Primary Fiduciary Duties
Duty of Care
Duty of Loyalty
Oil & Gas M&A Portal | Providing Access to a Library of Insight 5
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- the board of directors composition structure duties and
- requirements for public company boards
- corporate governance the board of directors and standing
- an overview of fiduciary duties
- ten basic responsibilities of nonprofit boards
- board of directors stanford graduate school of business
- board of directors corporate governance guidelines
- diversity in the boardroom article 1 what is board diversity
Related searches
- 8.2 photosynthesis an overview answers
- photosynthesis an overview answers
- 8.2 photosynthesis an overview answer
- photosynthesis an overview answer key
- 8.2 photosynthesis an overview key
- 8 2 photosynthesis an overview quizlet
- 8 2 photosynthesis an overview key
- 8 2 photosynthesis an overview answers
- 8 2 photosynthesis an overview answer
- 9 1 cellular respiration an overview answers
- cellular respiration an overview pogil answers
- cellular respiration an overview pogil