While shareholders are isolated from liability for the careless actions of corporations, this protection is not always
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While shareholders are isolated from liability for the careless actions of corporations, this protection is not always carried through to directors who may be held criminally and civilly liable for the actions of the corporation, especially when they cause physical injury to others. Directors, like partners, also owe a fiduciary duty to the corporation and can be personally sued when they violate that duty. Discuss the relative obligations of directors and partners to each other, to the business, and to outsiders. Consider whether the imposition of such liability goes too far or not far enough from a business and ethical point of view. In your discussion consider the nature of fiduciary duty and whether such an overwhelming obligation has any place in the business world.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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