The duty of good faith is the principle that directors and officers of a corporation who are making decisions in their capacities as corporate fiduciaries, must act with a conscious regard for their responsibilities in that role.
The duty of loyalty is one of the fiduciary duties owed by a company’s directors. The duty of loyalty requires the directors to place the interests of the company and the shareholders before their personal and financial interests.
Emerging growth company (EGC) is a category of issuer for which the disclosure and gun-jumping regulations are relaxed.
In corporate law, the enhanced scrutiny test (also known as the Unocal Test) was established in Unocal Corp. v. Mesa Petroleum Co., 493 A.2d 946 (Del. 1985).
An entity refers to a person or organization possessing separate and distinct legal rights, such as an individual, partnership, or corporation. An entity can, among other things, own property, engage in business, enter into contracts, pay taxes, sue and be sued.
In business law, entity liability is when a corporation is treated as an independent legal entity, and should be held liable for the liabilities incurred by the business.
The Bureau of Industry and Security (BIS) controls the export of commodities and related technology whose widespread release could compromise U.S. national security. The Entity List is found in Supplement No.
Equitable subordination is a common law doctrine that courts use to ensure fairness in ranking debts during a bankruptcy proceeding.
Espionage is the crime of secretly obtaining or transmitting information without authorization for the purpose of benefiting a foreign power, organization, or entity.
Ex officio is a Latin term that means “by virtue of the office.” The term denotes a job or task assigned to someone as a result of another title they hold. For example, a CEO may be a member of a company board of directors automatically, or the Vice President of the U.S. presides over the U.S. Senate on certain matters as part of being Vice President. An ex officio role can be as minimal as serving a ceremonial position, or the role can be as high as a managerial position.
