corporate opportunity

corporate opportunity

n. a business opportunity which becomes known to a corporate official, particularly a director or other upper management, due to his/her position within the corporation. In essence, the opportunity or knowledge belongs to the corporation, and the officials owe a duty (a fiduciary duty) not to use that opportunity or knowledge for their own benefit. The corporation may have the right to damages (to be paid off) for such improper appropriation (use) of the opportunity on the theory that the official holds it in "constructive trust" for the corporation. The corporation may obtain an injunction (court order) to prevent someone's use of the knowledge or opportunity. In such cases angry stockholders may bring their own legal action for their benefit in what is called a derivative action. Such insider misappropriation (inappropriate use of information) may also be criminal theft, or be violative of federal or state securities laws. (See: conversion, conflict of interest, derivative action)

References in periodicals archive ?
But, never ones to miss out on a corporate opportunity, Johanna and Per embark on a new moneymaking scheme, with Anders once again unwittingly at the helm.
49 per share, PIMCO Corporate Opportunity Fund (NYSE:PTY) a dividend of USD0.
reminds business lawyers of the basics and the new twists, including considering the situation of the client, privacy and confidentiality, the lawyer as intermediary, confidentiality in corporate internal investigations, parent-subsidiary related party transactions, the corporate opportunity doctrine, multiple representation, screening and the personally disqualified attorney, the business attorney as litigator in corporate settings, lawyers who take equity interests in their clients, working as an inside counsel, and counsels working as directors.
Examples include flagrant diversion, self-dealing, entrenchment, usurping corporate opportunity, excessive executive compensation and insider trading.
Each issue includes coverage of such topics as the effective use of fight letters in proxy contests, SEC losses in recent insider trading cases, disclosure obligations of issues of municipal securities, ethical duties for lawyers under Sarbanes-Oxley and the corporate opportunity doctrine as it relates to IPOs.
A strip advertisement is available on both pages of each of the spreads and these will provide an excellent, corporate opportunity for local business and organisations to promote their own success stories, products or services in what will be a unique and well read supplement.
In Part III, I examine the separate issue of whether this CEO may be usurping a corporate opportunity when someone such as Mr.
The great levelling of the playing field that social media has engendered has led to plenty of corporate opportunity - initially around digital marketing - but also very real risks.
M2 EQUITYBITES-September 22, 2011-PIMCO Corporate Income Fund and PIMCO Corporate Opportunity Fund change names and investment policies(C)2011 M2 COMMUNICATIONS http://www.
NEW YORK -- The Boards of Trustees of PIMCO Corporate Income Fund (NYSE: PCN), PIMCO Corporate Opportunity Fund (NYSE: PTY), PIMCO Global StocksPLUS[R] & Income Fund (NYSE: PGP), PIMCO High Income Fund (NYSE: PHK), PIMCO Income Opportunity Fund (NYSE: PKO), PIMCO Strategic Global Government Fund, Inc.
Closed-end management investment companies PIMCO Corporate Income Fund (PCN) (NYSE:PCN); PIMCO Corporate Opportunity Fund (PTY) (NYSE:PTY); PIMCO Global StocksPLUS & Income Fund (PGP) (NYSE:PGP); PIMCO High Income Fund (PHK) (NYSE:PHK), PIMCO Income Opportunity Fund (PKO) (NYSE:PKO); PIMCO Strategic Global Government Fund Inc (RCS) (NYSE:RCS); PCM Fund Inc (PCM) (NYSE:PCM); PIMCO Income Strategy Fund (PFL) (NYSE:PFL) and PIMCO Income Strategy Fund II (PFN) (NYSE:PFN) announced on Friday common dividends for October 2010.
NEW YORK -- The Boards of Trustees of PIMCO Corporate Income Fund (NYSE: PCN), PIMCO Corporate Opportunity Fund (NYSE: PTY), PIMCO Income Strategy Fund (NYSE: PFL), PIMCO Income Opportunity Fund (NYSE: PKO), PIMCO Strategic Global Government Fund, Inc.

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