A Morrison & Foerster team composed of Anna Erickson White, Craig Martin, Jina Choi, Mark Foster, and Ryan Keats authored an article for Corporate Board Member where they cover the key considerations for new directors as they join a board.
Directors have two principle fiduciary duties when overseeing and advising a corporation, the team advised, categorizing these as “the duty of loyalty and the duty of care.” In support of these duties, the authors offered tips they consider critical in ensuring that directors fulfill their obligations in the best interest of the corporation and its stockholders, while also protecting themselves.