Duties of Corporate People

Duties of Corporate People

Terrell L. Williams

BUS 670 Legal Environment

Professor Alexis Hooley

September 10, 2012

Duties of Corporate People

This paper will detail the respective duties of corporate people. Discussed will be the duties of directors, officers, and shareholders of corporations.  Although people make up the body of a corporation they differ in many ways, for example a corporation cannot fall in love, write poetry, nor do they have feelings. Corporations exist mainly for the purpose of making money for the people that own, run and invest in them.

Directors of corporations' duties and functions serve to control and purpose the overall operations, manage and evaluate the shareholders interest and financial structure, filter employee communication. Directors should develop and progress over the course of their careers. They should also share their insight and experience during meetings with their staff to address issues so the proper actions can be taken. Directors must possess two important values honesty and integrity always remember that their duties and responsibilities are to the shareholders

Officers of corporations' duties and loyalties are similar to the duties and loyalties are corporate directors. Officers owe their loyalty to the corporation and its shareholders this is the same as directors. Officers serve as the go between for employees it is the officers' job to pass out rewards and execute punishments that the directors deem necessary. It is the officers' job to inform the directors of matters that are relevant to the corporation.

Shareholders are defined as a person, company, or other institution that owns at least one share in a

company. The shareholders of corporations gain from the sell-offs for firms that retain proceeds. Today shareholders have some say in the corporation that they invest in.

when power began to move in the direction of shareholders after a long period during which managers had called almost...