Elements
A business opportunity is a corporate opportunity if the corporation is financially able to undertake the opportunity, the opportunity is within the corporation's line of business, and the corporation has an interest or expectancy in the opportunity. The Delaware Court of Chancery has stated, "An opportunity is within a corporation's line of business . . . if it is an activity as to which the corporation has fundamental knowledge, practical experience and ability to pursue." In In re eBay, Inc. Shareholders Litigation, investing in various securities was held to be in a line of business of eBay despite the fact that eBay's primary purpose is to provide an online auction platform. Investing was in a line of business of eBay because eBay "consistently invested a portion of its cash on hand in marketable securities." A corporation has an interest or expectancy in a business opportunity if the opportunity would further an established business policy of the corporation.
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Famous quotes containing the word elements:
“The two elements the traveler first captures in the big city are extrahuman architecture and furious rhythm. Geometry and anguish. At first glance, the rhythm may be confused with gaiety, but when you look more closely at the mechanism of social life and the painful slavery of both men and machines, you see that it is nothing but a kind of typical, empty anguish that makes even crime and gangs forgivable means of escape.”
—Federico García Lorca (1898–1936)
“Nature confounds her summer distinctions at this season. The heavens seem to be nearer the earth. The elements are less reserved and distinct. Water turns to ice, rain to snow. The day is but a Scandinavian night. The winter is an arctic summer.”
—Henry David Thoreau (1817–1862)