MGMT 3100 Lecture Notes - Lecture 8: Caving, Crowdfunding, Fiduciary

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The lord"s bills charging a vacation to the company; there were class action lawsuits. All are examples of breach of judiciary duty not acting in best interests of the company. Proxy battle: think of blockbuster when a shareholder comes to challenge the other shareholders. Slide 1: the structure of the modern business corporation. Shareholders elect the bod and own the company. Unanimous shareholder agreement: agreement agreed by all shareholder which takes away power from board of director (bod) If there is no agreement like such then the bod will manage the business and its affairs. Business - means relationship external and affairs - means internal. Subsection 3 of section 115: at least one third of the directors of an offering (a company that offers its share publically) corporation shall not be officers or the employees of the corporation. To avoid the conflict of interest: they are called independent directors.

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