Presenting to the boardof directors, the independent director could prevent the controlling shareholders or the insiders from abusing their power and protecttheindependenceof the board.
Amid the biggest legal crisis to rock the corporate world, News Corp serves as a valuable lesson for all companies on such critical issues as directorindependence, reputational preservation, and responsible corporate officer liability, among others.
Mr. Kopel is research director of the Independence Institute and co-author of the law school textbook, "Firearms Law and the Second Amendment" (Aspen, 2012).
"Independence Day" was finished in record time for a director with an almost obsessive attention to detail and a predilection for lavish, time-consuming special effects.