Corporate governance is a framework of rules and regulations that governs the leadership, organization, and management of a company. In addition to compliance with laws, rules, and regulations, corporate governance may include compliance with the company’s corporate charter, bylaws, formal policies, customs, and internal processes. The company’s board of directors often directs its corporate governance over a broad range of functions, including financial reporting and disclosures, securities laws, risk management, operating plans and budgets, strategic planning, succession planning, crises management, internal controls, internal audits, preventing foreign corrupt business practices, and executive compensation.

In West Virginia (WV), corporate governance is primarily guided by the West Virginia Business Corporation Act, which sets forth the legal framework for the formation, operation, and dissolution of corporations within the state. This includes regulations on the roles and responsibilities of the board of directors, shareholder rights, and disclosure requirements. Companies must also adhere to federal laws such as the Sarbanes-Oxley Act for financial reporting and disclosures, and the Dodd-Frank Act for financial reforms and consumer protection. Additionally, corporations operating in WV must comply with their own articles of incorporation, bylaws, and any internal policies they have established. These documents and policies often cover areas such as strategic planning, risk management, succession planning, and executive compensation. The board of directors is responsible for overseeing the corporation's adherence to these governance practices and ensuring that the company operates in a legal and ethical manner. Publicly traded companies must also comply with the regulations of the Securities and Exchange Commission (SEC) regarding securities laws and disclosures.