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The duties of the board of directors

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  1. The legal obligations of the board of directors
  2. The liability of the board of directors

The corporation according to how we understand it today, came into existence in the 19th century because entrepreneur needed a device to raise capital from a large number of investors. According to the legal dictionary: ?the corporation is an organization formed with state governmental approval to act as an artificial person to carry on business (or other activities), which can sue or be sued, and (unless it is non-profit) can issue shares of stock to raise funds with which to start a business or increase its capital?.

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