Directors are elected by the shareholder Directors are the managers of the business Directors set corporate policy and make key decisions Directors appoint the officers to carry out the corporate policies Directors only act by voting at board meetings. Shareholders Officers Piercing the Corporate Veil Interference with Shareholder Franchise Shareholders Officers Piercing the Corporate Veil Interference with Shareholder Franchise Corporate Form Special Problems of Close Corporations Corporate Form Corporate Structure Special Problems of Close Corporations Corporate Organization and Management