Corporate directors and officers need few reminders that their world has become a riskier place, with a rise in external and internal investigations and oversight, as well as shareholder lawsuits. Fortunately, Delaware law affords significant protection to corporate directors and officers.
Directors and officers of Delaware corporations are typically entitled to have their legal expenses and fees advanced when they are forced to defend their actions related to their corporate capacities either internally, to government investigators or even in a public court. "Advancement" is the name used for the corporate obligation to pay a director, officer or agent’s legal expenses and fees as they are incurred in defending investigations or claims brought against them related to their service to the corporation.
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