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Current Status of Corporate Directors' Right to Indemnification
Bishop, Joseph
Bishop, Joseph
Abstract
IN these days when profits are hypertrophied and business leaders have, at least for a time, ceased to be objects of suspicion and aversion, a director of a large corporation is a person of considerable magnificence. But corporate eminence, like other types, has its perils. The director's sword of Damocles is the individual liability to which he almost inevitably exposes himself when he assumes the responsibility of managing a large aggregation of other people's capital, thereby affecting in a variety of ways the interests of other business organizations, government, and the public.