As more companies become disillusioned with their boards of directors, many are turning to creating boards of advisors. Executives claim that the framework of boards of directors is too restrictive because they are locked into corporate and legal contracts to protect the interests of shareholders. Boards of advisors however, are becoming a useful alternative because advisors have more anonymity, and more legal leeway to speak their minds. There are pros and cons to both types of boards. Boards of directors, which are selected by the shareholders, are directly responsible for both strategic and fiduciary decisions. They need to be insured and require financial compensation so are better suited to larger corporations. Although boards of directors do not hold ultimate responsibility, it was noted by A C WebMaster on askville.amazon.com, “They are limited in their authority by those people who chose them for the position.  In business, this would be the shareholders.” Both boards of directors and boards of advisors may exist independently or may work together for the mutual benefit of the company. Providing contrast is essential according to...