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:
“Shall the railroads govern the country, or shall the people govern the railroads? Shall the interest of railroad kings be chiefly regarded, or shall the interest of the people be paramount?”
—Rutherford Birchard Hayes (1822–1893)
“It is the interest of the commercial world that wealth should be found everywhere.”
—Edmund Burke (1729–1797)
“We women are not made for governing and if we are good women, we must dislike these masculine occupations; but there are times which force one to take interest in them mal gré bon gré, and I do, of course, intensely.”
—Victoria (1819–1901)
“Attending upon a prince is as dangerous as keeping company with a tiger.”
—Chinese proverb.