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Came across this concept recently and I'm pretty mind-blown when I really think about the implications..
"Duty of Loyalty is a term used in corporation law to describe a fiduciaries' "conflicts of interest and requires fiduciaries to put the corporation's interests ahead of their own." "Corporate fiduciaries breach their duty of loyalty when they divert corporate assets, opportunities, or information for personal gain."
What this really means is, say, you're a real estate developer who sits on the board of a real estate company and you come across an opportunity to purchase land. It's your DUTY to bring this information to the corporation first before you can act on it!!!
"The duty of loyalty is breached when the director puts his or her interest in front of that of the corporation."
Sounds to me like socialism. The good of the many is more important than you.
"Duty of Loyalty is a term used in corporation law to describe a fiduciaries' "conflicts of interest and requires fiduciaries to put the corporation's interests ahead of their own." "Corporate fiduciaries breach their duty of loyalty when they divert corporate assets, opportunities, or information for personal gain."
What this really means is, say, you're a real estate developer who sits on the board of a real estate company and you come across an opportunity to purchase land. It's your DUTY to bring this information to the corporation first before you can act on it!!!
"The duty of loyalty is breached when the director puts his or her interest in front of that of the corporation."
Sounds to me like socialism. The good of the many is more important than you.
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