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If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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Legal Definitions - outside director
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
✨ Enjoy an ad-free experience with LSD+
Definition of outside director
An outside director is a member of a company's board of directors who is not an employee or major shareholder of the company. They are appointed or elected to provide an objective perspective and exercise control over the company's officers.
- An individual who is a professor at a university and is appointed to serve on the board of directors for a technology company as an outside director.
- A retired executive who is elected to serve on the board of directors for a healthcare company as an outside director.
These examples illustrate how outside directors bring diverse experiences and perspectives to a company's board of directors, which can help improve decision-making and prevent conflicts of interest.
It is better to risk saving a guilty man than to condemn an innocent one.
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Simple Definition
Outside Director: A person who is elected or appointed to sit on a board that manages the affairs of a corporation or organization but has little or no direct interest in the corporation. They are not employees, officers, or major shareholders of the corporation.
The end of law is not to abolish or restrain, but to preserve and enlarge freedom.
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