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Case law is on the side of corporations having no generalized duty to maximize profit on a day-to-day basis, for what it's worth. Corporations can exist for an
by jforman 7y ago
Case law is on the side of corporations having no generalized duty to maximize profit on a day-to-day basis, for what it's worth. Corporations can exist for any number of reasons and the fiduciary duty is much more limited than people generally expect.
My wife wrote a law journal article on this but it isn't digitized unfortunately.