Liability Without Borders - the Challenge of Being a Director and Officer in a Global Economy: Part I

In our developing global economy, directors and officers increasingly face unanticipated sources of risk from new and sometimes unforeseen foreign sources. While our governance procedures are "made in Canada," best practices now requires directors and officers to consider and plan for potential foreign exposure. This article will highlight some key issues for consideration in foreign and domestic jurisdictions. As it should, although often does not, go without saying: it is better to plan than to leave potential liabilities to chance. The world is too big a place, and regulators and courts can have "long arms." Published in Corporate Liability Journal, Volume XVI, No. 1, 2011.