"Due diligence" gets used three ways in the same meeting. Only one has a statutory definition, and it's the one that can put your name on a charge sheet. Here's what the legal duty actually requires of officers and directors, where it most commonly breaks down, and the uncomfortable test most leaders can't pass.

Early in his legal career, Risk Collective Director Martin Richardson sat through a crisis simulation so realistic it left him drained. Six months later, his phone beeped again at 4:30pm on a Friday. This time it wasn't a drill. Here's what he learned about crisis readiness — and why your team's first real test shouldn't be the real thing.