What are the legal liabilities of corporate directors?

Corporate directors in Delaware are legally responsible for the management and overall success of the company. This means they are the ones held liable if any legal issues arise in regards to the company. In Delaware, corporate directors are held responsible for failing to exercise their fiduciary duties - meaning their responsibilities to the company and its shareholders - when acting on behalf of the company. This includes their duty to act in the best interests of the corporation and its shareholders, the duty of loyalty, and the duty of care. Failing to fulfill these duties, or being derelict in their duties, can result in legal liability for the directors. This means they can face potential civil and criminal liabilities, such as financial responsibility for any losses incurred by the company due to their actions. In addition, corporate directors in Delaware are also liable for any acts of fraud, negligence, or breach of contract. In some cases, this could result in personal liability for the directors if they are found to have been personally involved in the wrongdoing. Overall, corporate directors in Delaware are held to a high standard of responsibility and can face legal liabilities for any actions taken on behalf of the company that violate the fiduciary duties they are required to uphold.

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What are the legal liabilities of corporate directors?

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