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Director liability when you’re no longer a director?

Director liability when you’re no longer a director?

By Nina Kaufman, Esq.

From the Department of “Hey, That’s a Good Point!” comes this article on Board of Directors liability by attorney Alan Sklover, Esq.  (yes, you can learn interesting things from your LinkedIn groups!).  It has to do with corporate housekeeping, directors and officers, and how to protect yourself against future entanglements. Why is this relevant? Because small businesses often ask family and friends (and advisors) to sit on their board or somehow serve the company to either (1) get the benefit of their expertise; and/or (2) offer “equity” in exchange for investing money in the corporation or providing services to it. For some, it’s an exciting ride to be part of the management of a small business. What they don’t focus on, though, is that there are risks to participating. THE GENERAL RULE:  Usually, directors and officers of a corporation are shielded from being sued personally for the reasonable decisions they make while serving as directors and officers. The concept is that, if you are acting fairly on behalf of the corporation, you should not be…

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.

With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.

And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.

I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.