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A person who devises a plan for a business venture; one who takes the preliminary steps necessary for the formation of a corporation.

Promoters are the people, who, for themselves or on behalf of others, organize a corporation. They issue a prospectus, obtain stock subscriptions, and secure a charter. Promoters stand in a fiduciary relationship to the proposed company and must act in Good Faith in all their dealings for the proposed corporation.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. a person who puts together a business, particularly a corporation, including the financing. Usually the promoter is the principal shareholder or one of the management team and has a contract with the incorporators or makes a claim for shares of stock for his/her efforts in organization. Most states limit the amount of "promotional stock" since it is supported only by effort and not by assets or cash. (See: promotional stock)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Some of the regulations police want the License Commission to consider are: criminal background checks on promoters, with promoters with criminal records being prohibited from holding events; background checks on security being used for promotional events; and prior notification by a club or bar about when a promoter event is going to take place.
Emergency medical training for health promoters in Central and South America
Following the work of Dos Santos et al ., who used the Drosophila actin promoter to drive rabies G protein expression in S2 cells,[47] we constructed a B1 promoter to successfully drive rabies G protein production in a mosquito cell line [Figure 2]d.
Kolkata (West Bengal) [India], June 24 (ANI): Homegrown FMCG firm Emami said on Monday its promoters have sold 10 per cent stake in the company for Rs 1,230 crore to reduce their debt.
On Tuesday, the firm told the Bombay high court that its promoters were ready to cap their voting rights at 20 percent despite holding a 30 percent stake in the private lender.
The problem becomes a lot more acute, said Joshi, in the case of mid-cap and small companies or where the share of the promoter pledge is more than 80 per cent of the promoter holding.
Last week, the man uploaded a video of him approaching a beer promoter to confront her for performing her job in the non-halal section of the hypermarket.
The Company has developed PromPT, its multi-dimensional bioinformatics database, that enables product-specific promoter design and selection empowering the next generation of cell and gene based medicines and bioprocessing applications.
Taking to her Twitter page, [@TiwaSavage], she posted a number of messages, venting and calling out the promoter for the way she has been treated.
As of December 2017 quarter, promoter and promoter group held 89.28 per cent stake in LTTS.
In this study, we seek to analyze intrinsic promoter activity using a single reporter gene in different strains of Escherichia coli by using a simple and straightforward protocol.