FAMILY BUSINESS SERIES: Outside Directors for Family Businesses
Family business face a dual challenge every day - - grappling with family issues and business issues. To help navigate those challenges it is critical to include independent directors on the Board of a family business. An independent director—who has no connection to the company except for the director role— brings strategic advice, sophisticated business experience, diverse skills, and an objective perspective about the company’s best interests. An outside director can bri
Pitfalls in Non-Disclosure Agreements
A Non Disclosure Agreement (NDA) is a legal contract between a “provider” of confidential information and a “receiver” of confidential information. The contract spells out the rights and responsibilities of each party with the dual aims of: protecting the information’s privacy and using the information productively. Some common pitfalls in drafting NDA’s include: Indefiniteness – not having a limiting time frame No Exceptions to Disclosure – there may be exceptions like dis
