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legal education and practice

inherent authority

Inherent authority refers to an agent's power to act on behalf of a principal, even though that power has not been specifically or implicitly granted by the principal. This type of authority arises only in situations where it is necessary for the agent to fulfill the actual authority that has been granted by the principal. 

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insider trading

Insider trading is the trading of a company’s securities by individuals with access to confidential or material nonpublic information about the company. Taking advantage of this privileged access is considered a breach of the individual’s fiduciary duty.

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