A board of directors is independent from the management of the company. It supervises and provides advice to a DocSend company. They also make decisions that help the company thrive. The board ensures that the business is operating in accordance with law and in the best interests of its employees, investors and other stakeholders. Board members should have broad skills and experience, and are expected to foster a culture of trust and transparency.

The size, composition and structure of a board will differ according to the nature of the entity. This includes whether it is publicly traded (as an open company) or privately owned (private or limited) or owned by family members or employees (family-owned). The governance of every board is determined by its own set of rules that can be framed in its articles of incorporation or other bylaws.

The board’s primary responsibility is three fundamental obligations.

A well-rounded board is made up of people with a wide range of backgrounds and experiences. They are generalists who can hold a helicopter perspective, and yet are experts in their specific areas of expertise. They are not afraid to ask hard questions and question management’s assumptions. The best boards also encourage diversity, and encourage collaboration as well as communication and trust.