Definition
The board of directors is a group of individuals elected by the shareholders of a company to oversee its management and strategic direction. The board typically comprises both executive directors (involved in day-to-day management) and non-executive directors (independent advisors). The board of directors is responsible for making major decisions, setting policies, appointing senior executives, and providing oversight of company affairs.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.