The Roles and Responsibilities of the Board of Directors

Create and recruit a Board of Directors for a fictitious corporation of your choosing and describe its roles and responsibilities.

Articulate the composition of the Board of Directors for a fictitious corporation. Discuss the desirable attributes of each member of the Board (i.e., internal vs. external, ownership stake, backgrounds, etc.). Describe the role of the Board in the management of the corporation. Discuss the fiduciary duties the directors owe and to whom they are owed. Discuss the Business Judgment Rule and its potential impact on Board decisions.