USA HISTORY

Detailed explanation-1: -All business corporations-large, medium, and small-have boards of directors as required by the general corporation laws of the states in which the companies are incorporated.

Detailed explanation-2: -A board of directors (B of D) is the governing body of a company, elected by shareholders in the case of public companies to set strategy and oversee management. The board typically meets at regular intervals. Every public company must have a board of directors.

Detailed explanation-3: -Limited companies also have to appoint directors to manage day-to-day business activities on behalf of their members. Some companies also choose to appoint secretaries to assist directors with their duties and responsibilities. Collectively, directors and secretaries are called ‘company officers’.

Detailed explanation-4: -A corporation, sometimes called a C corp, is a legal entity that’s separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable. Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.