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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 …