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 the, interest of, interest and/or company:
“The heights of popularity and patriotism are still the beaten road to power and tyranny; flattery to treachery; standing armies to arbitrary government; and the glory of God to the temporal interest of the clergy.”
—David Hume (1711–1776)
“Justice is a moral virtue, merely because it has that tendency to the good of mankind, and indeed is nothing but an artificial invention to that purpose. The same may be said of allegiance, of the laws of nations, of modesty, and of good manners. All these are mere human contrivances for the interest of society.”
—David Hume (1711–1776)
“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)
“If it were not for the company of fools, a witty man would often be greatly at a loss.”
—François, Duc De La Rochefoucauld (1613–1680)