While a directorship carries a prestigious status, it comes with responsibility. In most jurisdictions the limited liability company offers some safeguards against civil liability and, sometimes, criminal liability. But any protections are not unlimited or absolute. The risk of being personally sued or being found to be criminally liable remains as jurisdictions increasingly recognize grounds for the piercing of the corporate veil.
This guide aims to help you understand the basic principles applicable in different jurisdictions. It covers the usual issues of concern and common risks that a person holding such an office may potentially encounter, thus helping directors to have starting point when making decisions or assuming the office.