Question

Officers and directors may not take personal advantage of a business opportunity that rightfully belongs to the corporation. This is known as: a. The de minimus test doctrine b. Takeover defense doctrine c. Right of first refusal d. Corporate opportunity doctrine

Answer 1

Officers and directors may not take personal advantage of a business opportunity that rightfully belongs to the corporation this is known as the Corporate opportunity doctrine.

The Corporate Opportunity Principle is a legal principle that indicates that a company's directors or officers must not use or use the business for personal gain. According to the doctrine, business precedents should only be used for business purposes and not for personal gain. This rule aims to reconcile the manager's obligations to the company with personal interests.

Corporate Opportunity refers to the fiduciary responsibility of a company's officers and directors to not deprive the company of business opportunities for the benefit of the company.

The principle of corporate opportunity sets out the general principle that management should not abuse their position within the company as it is their job to act in the best interests of the company. Courts differ in how they evaluate what constitutes a business opportunity.

Learn more about the Opportunity Principle here: brainly.com/question/11933950

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