Managing employee loans involves clear agreements outlining loan amounts, interest, repayment schedules, and conditions that trigger repayment. Common triggers include employment termination, …
READ MORE →Legal claims for misuse of partnership opportunities focus on a partner’s unauthorized exploitation of business prospects that align with the partnership’s scope. Partners owe fiduciary duties to …
READ MORE →A company officer signs a lease, a vendor agreement, or a purchase order. Nobody checked with the board first. Months later, the board discovers the commitment and wants out. Is the contract …
READ MORE →Owners using company property for personal advantage risk breaching fiduciary duties, violating legal obligations, and incurring tax liabilities. Such use may be viewed as misappropriation, triggering …
READ MORE →Breach of the duty of loyalty exposes fiduciaries to civil liability, including damages and disgorgement of profits gained through disloyal acts. Criminal charges such as fraud or embezzlement may …
READ MORE →In Colorado, the fiduciary duty of loyalty compels directors and officers to act in the corporation’s best interests, forbidding self-dealing and conflicts of interest. The corporate opportunity …
READ MORE →In Minnesota, the fiduciary duty of loyalty requires directors and officers to prioritize corporate interests above personal gains and prohibits exploiting corporate opportunities for self-benefit. …
READ MORE →The business judgment rule and corporate opportunity doctrine are two foundational concepts in corporate governance. The business judgment rule shields corporate directors and officers from liability …
READ MORE →The Corporate Opportunity Doctrine, a cornerstone of corporate law, imposes a fiduciary duty on corporate officers and directors to prioritize the corporation’s interests and maintain …
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