Directors' Meeting Minutes

The minute book is a unique record system that a corporation uses to store its most important documents. For example, in most cases the Minutes of Directors’ Meeting will be filed in the minute book. Other documents that go into this record can be the shareholders’ meeting minutes, annual reports, corporate resolutions, and the like.

In the context of corporations, the governing law refers to the jurisdiction where the corporation was incorporated. The corporation is obliged to act according to the authority of that specific state.

Recording the Minutes of Directors' Meeting is a skill, and that's why it's usually entrusted to someone who has the knowledge and experience to do it. There are many things that can go wrong with corporate minutes, but three in particular stand out. The first mistake is not pre-planning for the meeting. The second is missing important details such as the start and end time of the meeting. But perhaps the worst mistake is not reviewing the minutes in detail after the meeting.

There are no hard rules on this, but there has to be a balance of being specific enough without creating a document that’s too big. For the most part, this is something that's learned with experience because it can be challenging to discern what should go into the minutes and what shouldn't.

This is entirely up to the management of the corporation in question. In some cases, having a corporate attorney present at the board meeting can be immensely beneficial for proper record-keeping. It’s also not a bad idea to get legal help when you’re just starting your company. But experienced company secretaries usually won’t need legal help.