The interest of the company (sometimes company benefit or commercial benefit) is a concept that the board of directors in corporations are in most legal systems required to use their powers for the commercial benefit of the company and its members. At common law, transactions which were not ostensibly beneficial to the company were set aside as being void as against the company.
Read more about Interest Of The Company: Background, Modern Developments, Distinction From Other Legal Concepts
Famous quotes containing the words interest of, interest and/or company:
“The most ingenious men continually pretend to condemn tricking—but this is often done that they may use it more conveniently themselves, when some great occasion or interest offers itself to them.”
—François, Duc De La Rochefoucauld (1613–1680)
“If property had simply pleasures, we could stand it; but its duties make it unbearable. In the interest of the rich we must get rid of it.”
—Oscar Wilde (1854–1900)
“Men with secrets tend to be drawn to each other, not because they want to share what they know but because they need the company of the like-minded, the fellow afflicted.”
—Don Delillo (b. 1926)