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Interlocking Directorate |
Also found in: Financial, Wikipedia | 0.01 sec. |
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The relationship that exists between the board of directors of one corporation with that of another due to the fact that a number of members sit on both boards and, therefore, there is a substantial likelihood that neither corporation acts independently of the other. Because the same persons occupy seats on the boards of companies that are supposed to compete in the marketplace, there is a potential for violations of federal antitrust acts, particularly the Clayton Act (15 U.S.C.A. §§ 12-27 [1914]) which prohibits the existence of inter-locking directorates that substantially reduce commercial competition. |
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? References in periodicals archive |
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Interlocking directorates can be incredibly complex, with relationships open to questions due simply to appearance. NRES, GNCP and Senior may be deemed to be affiliates due to their interlocking directorates, common stockholders and business relationships. Such an election would result in a violation of Section 8 of the Clayton Act, which prohibits interlocking directorates between competitors. |
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Interlocking Directorate
