Why Companies May Have To Pay Ex-Directors' Legal Fees

Many will be surprised to learn that a company may need to advance attorney's fees to a former director or officer being sued by the company for theft of trade secrets or other misconduct while serving as an officer or director, and to indemnify that director or officer if she or he prevails at the end of the lawsuit. This article describes how a company's articles of incorporation, organic documents or contracts may require such...