Probably one of the most boring things to ask... - Tilted Forum Project Discussion Community

Cynthetiq · 11-19-2009, 08:30 PM

Fiduciary duty.

if you are a fiduciary for a company or an individual when does it end?

Plan9 · 11-19-2009, 08:39 PM

I'm a total dumbass, but a Black's Law Dictionary would be the first place I'd hit up. Get the definitions straight first.

GreyWolf · 11-20-2009, 04:15 AM

The fiduciary relationship ends when your contract with the other party ends, AND all relevant fiduciary duties have been completed. In your case, I would think that as soon as you are no longer on the board (i.e. your replacement or the replacement board has been duly sworn), AND all your obligations have been met. This does mean that some fiduciary duties survive the termination of the formal contract in that they cannot be completed in the sense of finishing them (confidentiality being a big one).

Cynthetiq · 11-20-2009, 04:35 AM

so what is included in confidentiality?

when I sign severance papers there is a confidentiality clause that states I won't talk about the contract, none of the duties, processes, trade secrets, etc.

Now I had access to personal information of shareholders, but I don't have any of that information. I do have proposed budgets, variance reports, contract awards... nothing that I believe would be proprietary information that makes for company trade secrets or processes.

I ask this because I'm planning on taking my blog that I campaigned with and turning it into a place to educate our shareholders about how our place operates, both in lack of communication and process. This will be a members only site, members will be vetted against the shareholders list which is available to any shareholder who requests it in writing.

So, I believe I can talk about things that happened 4 years ago so long as I'm not divulging names, personal information. Since there are no minutes provided to shareholders or very little communication, I believe I could even get away with claiming that it is all fiction, based on true stories and events.

These people believe so strongly in not communicating that they don't even want shareholders to know what date and time the next board meeting is.

11-19-2009, 08:30 PM	#1 (permalink)
Cynthetiq Tilted Cat Head Administrator Location: Manhattan, NY	Probably one of the most boring things to ask... Fiduciary duty. if you are a fiduciary for a company or an individual when does it end? __________________ I don't care if you are black, white, purple, green, Chinese, Japanese, Korean, hippie, cop, bum, admin, user, English, Irish, French, Catholic, Protestant, Jewish, Buddhist, Muslim, indian, cowboy, tall, short, fat, skinny, emo, punk, mod, rocker, straight, gay, lesbian, jock, nerd, geek, Democrat, Republican, Libertarian, Independent, driver, pedestrian, or bicyclist, either you're an asshole or you're not. What's the best nation in the world? DO-NATION!

11-19-2009, 08:39 PM	#2 (permalink)
Plan9 I Confess a Shiver	I'm a total dumbass, but a Black's Law Dictionary would be the first place I'd hit up. Get the definitions straight first. __________________ *Whatever you can carry.* "You should not drink... and bake."

11-20-2009, 04:15 AM	#3 (permalink)
GreyWolf Sober Location: Eastern Canada	The fiduciary relationship ends when your contract with the other party ends, AND all relevant fiduciary duties have been completed. In your case, I would think that as soon as you are no longer on the board (i.e. your replacement or the replacement board has been duly sworn), AND all your obligations have been met. This does mean that some fiduciary duties survive the termination of the formal contract in that they cannot be completed in the sense of finishing them (confidentiality being a big one). __________________ *The secret to great marksmanship is deciding what the target was AFTER you've shot.*

11-20-2009, 04:35 AM	#4 (permalink)
Cynthetiq Tilted Cat Head Administrator Location: Manhattan, NY	so what is included in confidentiality? when I sign severance papers there is a confidentiality clause that states I won't talk about the contract, none of the duties, processes, trade secrets, etc. Now I had access to personal information of shareholders, but I don't have any of that information. I do have proposed budgets, variance reports, contract awards... nothing that I believe would be proprietary information that makes for company trade secrets or processes. I ask this because I'm planning on taking my blog that I campaigned with and turning it into a place to educate our shareholders about how our place operates, both in lack of communication and process. This will be a members only site, members will be vetted against the shareholders list which is available to any shareholder who requests it in writing. So, I believe I can talk about things that happened 4 years ago so long as I'm not divulging names, personal information. Since there are no minutes provided to shareholders or very little communication, I believe I could even get away with claiming that it is all fiction, based on true stories and events. These people believe so strongly in not communicating that they don't even want shareholders to know what date and time the next board meeting is. __________________ I don't care if you are black, white, purple, green, Chinese, Japanese, Korean, hippie, cop, bum, admin, user, English, Irish, French, Catholic, Protestant, Jewish, Buddhist, Muslim, indian, cowboy, tall, short, fat, skinny, emo, punk, mod, rocker, straight, gay, lesbian, jock, nerd, geek, Democrat, Republican, Libertarian, Independent, driver, pedestrian, or bicyclist, either you're an asshole or you're not. What's the best nation in the world? DO-NATION!