What Is a Corporate Board of Directors?

Video Transcript

"You have recently incorporated your business and you are coming in contact with many terms and phrases that you were not previously familiar with. One of these phrases is the board of directors. Hello, I'm Robert Todd and I'm here to answer the question what is a corporate board of directors? Well a board of directors is a body of selected persons who jointly oversee the activities of a corporation. They are elected by the shareholders and sometimes a board of directors has a different name. They may be known as the board of trustees, the board of governors, the board of managers, or the executive board. But it's generally the same thing. The board's activities are determined by the powers, duties and responsibilities that are delegated to them by the bylaws of the corporation. They are only authorized with the power and the duties that are conferred on them by the bylaws. I'm Robert Todd and thank you for watching."