Duties of Corporate People
Duties of Corporate People
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This 0 page Study Guide was uploaded by tophomework Notetaker on Sunday November 15, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 15 views.
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Date Created: 11/15/15
Duties of Corporate People Duties of Corporate People Student Name Date Course Name Duties of Corporate People Duties of People Critical To the Corporate Process Duties of Director of Corporation Director is a part of top management The major duty of a corporate director is to supervise or to oversee the activities performed within an organization Actually director is considered as a guardian of a corporation His duty is to supervise and to treat his workers equally to guide them towards the path of success to give them autonomy to discover their interests to provide employees with corporate responsibilities with a conscientious fairness integrity and sincerity in purpose Dowell 2012 Directors must have good decision making capabilities and they are bound to provide good judgments He should be loyal to his work and to his staff Besides above mentioned duties directors are responsible for the duty of disclosure Kim 2010 The disclosure is supported by business judgment rule according to this rule those directors who works with good faith belief and for the best interest of the company will be given more admiration by courts and will be protected from legal actions Duties of Of cers of Corporations The common rule correspondingly appropriate to both officers and directors is significantly the same The officers usually come out from the ranks of leading administration particularly in SmallMedium Enterprises They are appointed by Board of Directors as CEO or President The duty of an officer is to monitor the Duties of Corporate People lower level employees and to carry out daytoday management activities As they are a part of senior management so they are considered as a symbol of loyalty belief and integrity Business 2012 They are responsible to handle all the legal dealings to sign major contracts documents and agreements They work under the nose of Directors and are responsible to present corporation on their behalf in every platform Park 2011 Duties of Shareholders of Corporations A shareholders or stockholders of a corporation are considered to be those individual who have owned the accessible corporation by purchasing at least one share of the company Like directors and officers Shareholders are not bounded by fiduciary duties and regulations They have no intrinsic right to manage the corporation but have liability limited to his capital contribution Guidebook 2003 They are responsible for fair dealings their duty is to increase or decrease the number of directors or the minimum or maximum numbers of directors They are responsible for laws regulations as they are owner they have voting power and have ability to decide about the assets and future of organization Shareholders have authority to bring changes or alterations in the limitations rules and issues related to organization like transfer or ownership of shares Analysis of the Difference between a Publicly Held and a Close Corporation Duties of Corporate People A close corporation is considered as a private corporation in which shares are closely detained and are not offered to the public where as an open corporation is usually called as public corporation which is geared by the trade of shares to public This means everyone has an opportunity to purchase voting rights from an overthe counter or open market A publicly held corporation is possessed and valued by the significance of its stockholders that is it includes people who procure shares of the company in the expectation that the company will increase its net worth where as close corporations are owned completely by shareholders that do not trade their shares unless and until they have planned to run out a portion of a corporation Advice 2012 The chief advantage of public or open corporations is to have their capability to strike financial markets by the trade of stocks and bonds in order to raise capital where as speaking about the advantage of Private Corporation then they are not bound to answer to stockholders and there is no need to file disclosure statements Duties of Corporate People REFERENCES 0 David Kim 2010 Duties of a Corporate Director Retrieved from httDDarsuslaWW0rdDresscorn20100622dutiesof acorporatedirector 0 Derek Dowell 2012 the Responsibilities of a Board of Directors for Privately Held amp Publicly Held Companies Retrieved from htt smallbusinesschroncomres onsibilitiesboarddirectors rivatel held DubliclvheldcomDanies22267htrnl 0 All Business 2012 O icers39 Roles With in a Corporation Retrieved from httpWWWallbusinesscornbusinessplanningstructuresbusinessstructures532 1 htmlaxzz257WJS7ZM 0 Douglas Y Park 2011 Fiduciary Duties of O icers of the Corporation Retrieved from httpWWWdVDadvisorscorn201 10906fiduciarvdutiesof officersof corporation 0 Legal Guidebook 2003 Shareholder Duties and Remedies Retrieved from httpappsamericanbarorgbuslaWnewsletter001 1materialsmanagingcorpspdf 0 Free Advice 2012 what is a close or closely held corporation What is a publicly held corporation Retrieved from httpbusinesslaWfreeadvicecornbusiness lawcorporationsclose corporationhtm
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