New Corporate Law Proposal to Enhance Board Decision-Making and Governance
The article suggests adding a new rule in corporate law called horizontal fiduciary duty. This rule would make directors and officers responsible to each other, not just to the company. This change could help improve decision-making, encourage better board communication, and attract more skilled people to serve as directors. It could also make it easier for board members to defend themselves if another member breaks the rules. This new duty could lead to better management and governance in companies.