Business Pitch Dictionary by pitch.dog
Boards, directors & committees · Core

Fiduciary duty

Also called: fiduciary obligation

ELI5

A duty to act loyally and carefully for another party or entity under applicable law.

Used in conversation

“The minutes should record the decision on fiduciary duty, not reconstruct it later.”

Pitch context

You will see “Fiduciary duty” in board papers, contracts, policies, risk registers and compliance reports when the discussion reaches boards, directors & committees.

Why it matters: In boards, directors & committees, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

Sources & evidence · 3

Direct term-level sources and supporting source families.