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Duties Regarding Duties, Ronald J. Colombo
Duties Regarding Duties, Ronald J. Colombo
Marquette Law Review
Corporate directors are subject to the fiduciary duties of care and loyalty
in the discharge of their responsibilities. The demands of these duties, from
their precise contours to their application under a particular set of
circumstances, is oftentimes far from obvious.
In order to properly fulfill their duties of care and loyalty, corporate
directors necessarily depend upon corporate counsel: specialized attorneys,
whether in-house or external to the corporation, retained to advise and
represent the corporation. As attorneys, corporate counsel are themselves
subject to a wide array of professional responsibilities, ranging from the
exhortations of codes of ethics to duties the …