Promoter

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Promoter

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.

promoter

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 ?
Stay up-to-date with Auto Catalysts Market research offered by HTF MI.
As a result of the Catalyst Offer, shareholders will receive immediate liquidity at a premium to the current trading price of the common shares and at a significant premium to the Insider Buyout Proposal.
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ART is primarily engaged in catalyst technology research, development, production and catalyst marketing.
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By contrast, the amount of products formed (i.e., THDBT and BP products (50%)) in the HDS of DBT using the monometallic Pd-MOCVD catalyst (Figure 6(b)) was the same as the amount produced in the first hour of the reaction.
It consists of a curing agent and a curing catalyst that drives the crosslinking reaction at a rate appropriate to the application.
"We were very pleased with the strong interest from our membership in joining a Catalyst Council," said Dianne Addington, president/CEO of the Plano, Texas-based corporate.
Despite that the deactivation of cobalt catalysts has been studied extensively, literature review reveals that mechanism of the deactivation of cobalt catalyst along the reactor has not been studied.