Board of directors

Center for Interfaith Relations Board of Directors meeting

Executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency.

- Board of directors

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Ambassador Agustín Vásquez Gómez of the Republic of El Salvador, chairing the OPCW's Fourth Review Conference, November 2018
Ambassador Leena Al-Hadid of Jordan chairs a meeting of the International Atomic Energy Agency, 2018
Kullervo Manner (1880–1939), the chairman and communist leader of the Finnish Socialist Workers' Republic (FSWR; "Red Finland")
Christina Magnuson as Chairman presides over the 2016 annual meeting of the Friends of the Ulriksdal Palace Theater

The chairperson (also chair, chairman, or chairwoman) is the presiding officer of an organized group such as a board, committee, or deliberative assembly.

Corporate law

Body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses.

Hogarthian image of the South Sea Bubble, by Edward Matthew Ward, Tate Gallery
"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844.
A bond issued by the Dutch East India Company, dating from 7 November 1623, for the amount of 2,400 florins
Adolf Berle in The Modern Corporation and Private Property argued that the separation of control of companies from the investors who were meant to own them endangered the American economy and led to a mal-distribution of wealth.

Corporate law regulates how corporations, investors, shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community, and the environment interact with one another.


Legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a trust instrument, called a beneficiary.

Chart of a trust

Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government.

Nonprofit organization

Legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners.

McDonald's Corporation is one of the most recognizable corporations in the world.

The organization may be controlled by its members who elect the board of directors, board of governors or board of trustees.

Governing boards of colleges and universities in the United States

In the United States, a board often governs institutions of higher education, including private universities, state universities and community colleges.

The Assembly of Shimer College, a democratic shared governance model incorporating students, faculty and staff

In general, they operate as a board of directors, and they vary by formal name, size, powers, and membership.

Chief executive officer

One of a number of corporate executives charged with the management of an organization – especially an independent legal entity such as a company or nonprofit institution.

McDonald's Corporation is one of the most recognizable corporations in the world.

The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the share price, market share, revenues or another element.

Articles of association

The 1870 articles of incorporation for the Standard Oil Company

In corporate governance, a company's articles of association (AoA, called articles of incorporation in some jurisdictions) is a document which, along with the memorandum of association (in cases where it exists) form the company's constitution, and defines the responsibilities of the directors, the kind of business to be undertaken, and the means by which the shareholders exert control over the board of directors.


Individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation.

McDonald's Corporation is one of the most recognizable corporations in the world.

The board of directors of a corporation generally governs a corporation for the benefit of shareholders.

President (corporate title)

Leader of an organization, company, community, club, trade union, university or other group.

President presiding over the AGM of a small volunteer organization. President sitting at the left of table in the background.

In some organizations the president has the authority to hire staff and make financial decisions, while in others the president only makes recommendations to a board of directors, and still others the president has no executive powers and is mainly a spokesperson for the organization.


Activity of making one's living or making money by producing or buying and selling products .

Fish for sale in Dhaka, Bangladesh, with a price tag of 395 Bangladeshi taka per kilogram.
Offices in the Los Angeles Downtown Financial District
Mexican Stock Exchange in Paseo de la Reforma, Mexico City

Corporation: The owners of a corporation have limited liability and the business has a separate legal personality from its owners. Corporations can be either government-owned or privately owned, and they can organize either for profit or as nonprofit organizations. A privately owned, for-profit corporation is owned by its shareholders, who elect a board of directors to direct the corporation and hire its managerial staff. A privately owned, for-profit corporation can be either privately held by a small group of individuals, or publicly held, with publicly traded shares listed on a stock exchange.