Glossary · People and paperwork
Officers/Directors(Officers and Directors)
In short
Individuals who hold key leadership positions in a corporation, responsible for its management and governance. As a buyer, you need to understand who these people are, their roles, and any liabilities they carry.
What it means in a deal
Officers (e.g., CEO, CFO) handle day-to-day operations, while Directors oversee management and set strategic direction. In an acquisition, you'll need to confirm the legal authority of the selling officers/directors to execute the transaction. Post-closing, you'll appoint new officers and directors, and ensure proper corporate resolutions are in place.
Related terms
Common questions about Officers/Directors
- What specific factors trigger affiliation for size standards based on common management, officers, or directors?
- Beyond common officers/directors, how does a lender assess affiliation through "shared key employee functions" for SBA size standards?
- What specific scenarios involving shared directors, officers, or key employees constitute 'common management' triggering affiliation for SBA size determination?
- How are common officers or shared key employees between businesses evaluated for affiliation under SBA size standards?
Defined by CapBench SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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