Startup Terms Glossary
What is Duty of Loyalty?
Duty of loyalty is a board of directors’ obligation to act in a startup’s best interest when making decisions and to act. It’s one of two primary duties and requires a board member to demonstrate loyalty to the startup at all times. A duty of loyalty can decrease conflicts of interest which mitigates the chance of acting in bad faith.
Duty of Loyalty Examples
Duty of loyalty provision examples include:
- Example 1. Not override the startup’s opportunities
- Example 2. Prioritize the company over personal gain
- Example 3. Keep internal company information private
- Example 4. Avoid personal conflicts of interest
- Example 5. Reasonably disclose any interest conflicts to the board
Here’s a page about the duty of loyalty
Meet some of our Duty of Loyalty Lawyers
Melissa G.
Melissa D. Goolsarran Ramnauth, Esq. is an experienced trial-winning trademark and business attorney. She has represented large businesses in commercial litigation cases. She now represents consumers and small businesses regarding federal trademarks, contracts, and more. Her extensive litigation knowledge allows her to prepare strong trademark applications and contracts to minimize the risk of future lawsuits.
Ryan W.
Ryan A. Webber focuses his practice primarily on Estate Planning, Elder Law, and Life Care Planning. His clients range from young families concerned about protecting their family as well as aging individuals. Ryan provides Estate Planning, Trust Planning, Special Needs Planning, Public Benefit Planning, and Estate Administration. Ryan focuses on the holistic approach to the practice of elder law which seeks to ensure clients are receiving good care when needed and that they preserve enough assets with which to pay for such care. Many families and individuals also come to Ryan for preparation of their wills, power of attorney, and healthcare guidance documents. Additionally, Ryan assists small and medium sized business owners with their organizational and planning needs. From starting or winding down a business, Ryan provides quality business advice.
Jonathan G.
Small Business Attorney licensed in Texas and Colorado. Based in Dallas, appointments available in DFW area.
June 21, 2021
George B.
I help start-ups, small businesses, and people realize their potential by leveraging my legal and technological experience. Legally skilled in employment law, intellectual property, corporate law, and real estate transactions.
June 21, 2021
Sean S.
I am an attorney with six years of experience drafting and negotiating a wide variety of business contracts, in industries including technology and software, finance, professional services, hospitality, and non-profits.
June 28, 2021
Joshua C.
Attorney Joshua K. S. Cali is a respected business, estate planning, and real estate attorney based in Ashland serving Middlesex County and other nearby areas. Joshua graduated summa cum laude from Bentley University in Waltham, MA, and from UCLA School of Law in Los Angeles. Before starting his own firm, Joshua practiced estate planning for high net worth clients at a boutique law firm in San Diego, CA.
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