Governance and Records in Closely-Held Companies

By: Valerio Giannini

Corporate governance isn’t important until it is. The greatest hazard of poor governance is compromising protection against personal liability. In addition a review of corporate governance records is high on the due diligence lists of lenders, investors or buyers, and a half-empty minutes book may be perceived as symptomatic of other deficiencies. This article applies only to smaller, closely-held private companies. Governance for larger and especially public companies becomes substantially more complex.

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