Board of Directors

Board of Directors - A board of directors are individual people who are elected, in accordance with the company or corporation's charter, by the company or corporation's shareholders to oversee the corporation or company's management. The Board of Director's members, in a company or corporation, are usually paid in stock and/or cash, and they meet many times each year, usually monthly. The board of directors does assume legal responsibility for all corporate activities, which are also called directorates. The board of directors directorates are generally voted upon with a majority rule, set out in the company or corporation's charter specifying the number required for votes to pass.