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It doesn't have to be "codified" to be fiduciary. The trust relationship between any investor and the investment enterprise is that the enterprise will be able
by sageikosa 13y ago
It doesn't have to be "codified" to be fiduciary. The trust relationship between any investor and the investment enterprise is that the enterprise will be able to generate a return on the investment. If it doesn't assume this, it generally will be deemed a non-profit.
- pbhjpbhj 13y agoIf it's not codified then it's more likely an expectation than a responsibility. Of course investors expect a return, that's what the term "investor" entails. Non-pecuniary returns can satisfy the responsibilities of an enterprise. It appeared that a legal obligation was being suggested. What sort of obligation was being suggested and how is that obligation derived and enforced?