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Simple English definitions for legal terms

corporate-opportunity doctrine

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A quick definition of corporate-opportunity doctrine:

The corporate-opportunity doctrine is a rule that says people who work for a company cannot use information they learn while working there to benefit themselves instead of the company. This means they cannot take advantage of any business opportunities that the company has a right to or that should belong to the company. It's like a fairness rule to make sure everyone plays by the same rules. In a partnership, this rule is called the firm-opportunity doctrine.

A more thorough explanation:

The corporate-opportunity doctrine is a rule that prevents a corporation's directors, officers, and employees from using information they gained while working for the corporation to take personal advantage of any business opportunities that the corporation has an expectancy right or property interest in, or that should belong to the corporation in fairness.

For example, if a corporation is considering investing in a new technology, and an employee learns about a similar technology that could be profitable, the employee cannot use that information to start their own business or invest in the technology themselves. This would be a violation of the corporate-opportunity doctrine.

In a partnership, the analogous principle is called the firm-opportunity doctrine. This means that partners cannot take advantage of business opportunities that belong to the partnership for their own personal gain.

Overall, the corporate-opportunity doctrine is in place to ensure that corporations and partnerships are protected from individuals who may use their position to benefit themselves at the expense of the organization.

corporate officer | corporate-owned life insurance

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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