Directors' duties

rdf:langString Directors' duties

rdf:langString Directors' duties are a series of statutory, common law and equitable obligations owed primarily by members of the board of directors to the corporation that employs them. It is a central part of corporate law and corporate governance. Directors' duties are analogous to duties owed by trustees to beneficiaries, and by agents to principals. Among different jurisdictions, a number of similarities between the framework for directors' duties exist. * directors owe duties to the corporation, and not to individual shareholders, employees or creditors outside exceptional circumstances * directors' core duty is to remain loyal to the company, and avoid conflicts of interest * directors are expected to display a high standard of care, skill or diligence * directors are expected to act in good faith to promote the success of the corporation