The directors of privately held corporations are held to the same standards that are applied to the directors of public corporations.

Name: The directors of privately held corporations are held to the same standards that are applied to the directors of public corporations.
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Question

Quizplus · Accepted Answer

The duties and responsibilities of directors are similar regardless of whether the corporation is public or private. They have a fiduciary duty to act in the best interests of the corporation and its shareholders.

The Directors of Privately Held Corporations Are Held to the Same