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:
“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)
“A mob cannot be a permanency: everybody’s interest requires that it should not exist, and only justice satisfies all.”
—Ralph Waldo Emerson (1803–1882)
“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)