Page "Board of directors" Paragraph 30

The role and responsibilities of a board of directors vary depending on the nature and type of business entity and the laws applying to the entity ( see types of business entity ).

For example, the nature of the business entity may be one that is traded on a public market ( public company ), not traded on a public market ( a private, limited or closely held company ), owned by family members ( a family business ), or exempt from income taxes ( a non-profit, not for profit, or tax-exempt entity ).

There are numerous types of business entities available throughout the world such as a corporation, limited liability company, cooperative, business trust, partnership, private limited company, and public limited company.