corporate opportunity doctrine

Definition of "corporate opportunity doctrine"
  1. A principle in corporate law, where managerial figures such as directors and officers are restricted from executing a business opportunity that was initially proposed to the corporation they are associated with
How to use "corporate opportunity doctrine" in a sentence
  1. The judge found them in violation of the corporate opportunity doctrine as they capitalized on a business opportunity that should have been presented to the company first.
  2. While the directors argued they were unconnected with accepting the opportunity, it was seen as a breach of the corporate opportunity doctrine.
  3. The lawsuit was brought upon the grounds of violating the corporate opportunity doctrine since the executives had used a company's business prospect for their own benefit.

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