What Are Fiduciary Duties?
What Are Fiduciary Duties?
Acting in the Best Interests of Another
A fiduciary is a person who acts on the behalf of others because of the fiduciary's special knowledge or skills. Fiduciaries have a duty to act in the best interests of those whom they represent. Corporate officers and board members are fiduciaries because they control the day-to-day operations and the overall management of a corporation on behalf of the owners of the corporation: the shareholders. Even though the roles that officers and board members play in the corporation differ, the fiduciary duties ...