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Directors and officers must recognize that their personal assets can be at risk in liability claims, as there is often no clear separation between business and personal ownership. Whether or not a company’s stock is publicly traded, directors and officers could face lawsuits from vendors, customers, employees, competitors, and government regulators. Such cases can incur significant costs, including legal fees and business disruptions. Civil court trials can take 1-1.5 years to schedule and even longer to resolve. An example is a small electronics company that lured employees from a larger competitor and faced a lawsuit when it started offering similar products at lower prices.