Management and Organizational Studies 2275A/B Lecture Notes - Lecture 6: Charitable Corporation, Legal Personality, University Of Western Ontario

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Shareholders own the corporation, the corporations owns its assets and liabilities, but the shareholders do not own the assets and liabilities of the corporation (because they are separate legal entities and aren"t responsible for the debts of the corporation limited liability!) Directors and officers are liable when they seize corporate opportunities ie: learn about something and then resign/take opportunity for themselves, because they were acting as agents of the corporation when they learned about the opportunity, and not in their own capacity (opportunity isn"t for them as an individual, it is public ie: heard about it in the newspaper) Immoral look at which campaigns get the money (ie: wwf polar bears for coke campaign over aids/gunshot victims even though this is a more pressing issue because they go with the marketing campaign and they are cute; not going to put pictures of aids victims on their coke cans) only choose campaign based on if it will maximize profit.