Corporate directors take on enormous responsibilities when they join a board. They’re tasked with steering the company’s strategy, overseeing risk management, and keeping a watchful eye on the management team. When things go well, directors rarely get the credit. But when things go wrong, they can find themselves in the crosshairs of angry shareholders, regulators, and prosecutors.

As an entrepreneur, you make high-stakes decisions every day. You’re constantly weighing risks and opportunities, trying to chart the best path forward for your business. It’s a lot of responsibility, and it can be daunting to think about the legal ramifications of your choices. What if something goes wrong? Could you be held personally liable?

Corporate governance may not be the most exciting topic for entrepreneurs, but it’s a critical foundation for any successful business. Getting governance right can help you attract investors, make better decisions, and avoid costly legal pitfalls. In this article, we’ll explore some best practices that every startup founder and executive should know.

As an entrepreneur or corporate leader, understanding fiduciary duties is critical for sound corporate governance and protecting your company from legal risks. In this article, we’ll dive into what fiduciary duties are, the two main types of duties, and best practices to ensure you and your board are fulfilling your obligations.