How to Form a Board of Directors for your Business

 

As your business grows you may be faced with the decision of forming a Board of Directors. The sole purpose of a Board of Directors is to have the daily operations of the corporation handled by the officers who are appointed by the board of directors. You will want to consult with your lawyer at Robinson, Seiler & Anderson in Provo to learn more about the best way to go about forming a board of directors. Below are some of the aspects you need to take into consideration when you begin the process of forming your board of directors.

 

Think Long-Term

You will want to appoint and recruit directors that want your business to grow and be successful as much as you do. Make sure they are in it for the long run and will do anything they can to help the business succeed over the years.

 

Create Specific Job Descriptions

When forming the Board of Directors for your business you need to have a solid structure from the beginning. To do this it is always a good idea to create specific job descriptions for each of your directors. Make sure you define the role the board will play in strategy, risk management, etc.

 

Don’t Play Favorites

Insist that all directors recognize their duty to the company as a whole (or all of the shareholders) rather than play a limited role of safeguarding the interests of one shareholder.

 

Include Variety

The best way to have a successful Board is by including people from various backgrounds and experiences. Having a well-rounded group will help you in tackling any situation that may come their way. 

 

Boardroom Hierarchy

 Remember that the CEO reports to the board; be ready for a challenge and embrace the collective wisdom and enhanced discipline. Be clear about the differing roles of the chairman and CEO — and don’t try to combine them in one person.

View Our Testimonials Announcement

Norman H. Jackson, Utah Court of Appeals Judge, Retired, has joined the law firm of Robinson, Seiler & Anderson, LC, effective April 2017.  Judge Jackson was one of the seven founding Judges of the Utah Court of Appeals and served terms as Presiding and Associate Presiding Judge.
 
Judge Jackson was the senior attorney in a Richfield law firm for eighteen years.  The firm engaged in legal, business and tax cases, including practice before State and Federal Courts, U.S. Board of Land Appeals, Utah Public Service Commission and Arizona Corporation Commission.  Clients included counties, cities, banks department stores, communications and credit associations, irrigation companies, auto dealers, building supply stores, farmers, ranchers and small businesses. They took “every type of case that came through the door,” from criminal defense work to a patent royalty dispute for the inventor of the Frisbee. Judge Jackson has been a lifetime rancher doing business in Utah as Jackson Cattle Company and Arizona as EJ Cattle Ranches.
 
Judge Jackson’s professional service includes terms on the Utah State Bar Commission, Bar Foundation (President and Vice President), Air Travel Commission, and Utah Information Technology Commission.  He served on the Judiciary’s Alternate Dispute Resolution Committee for thirteen years and initiated and supervised the Appellate Court Mediation Office.  He developed and advanced a realistic and workable framework for both of Utah’s Appellate Courts to use in reviewing trial court and administrative agency decisions.  He published three editions of Utah Standards of Appellate Review while participating in more than 2,000 appellate court decisions.  
 
Judge Jackson’s experience will complement the other outstanding lawyers at Robinson, Seiler & Anderson, LC.  The firm will continue its representation of injured individuals, as well as clients in real estate, business, estate planning, tax, contract and education matters.
 

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