Fiduciary duties

Drug companies exist within a market economy and cannot be expected to deviate from the norms of that economy. By law, corporations have a "duty to put shareholders Interests above all others and no legal authority to serve any other interests" (Bakan 2004 36). Corporations are amoral they need to obey the law, but beyond that their obligation is to be as profitable as possible. Corporate social responsibility or anything that reduces profitability in the long term violates the corporation s fiduciary duty to its shareholders and leaves it vulnerable to a civil lawsuit. 

The Delaware Supreme Court recently pul debtors on notice that nearbankrupt corporabons must be mindful of their responsibilities to act in their creditors interests and not to their detriment. In Credit Lyonnais Bank v. Bathe Communications/ the court noted that a board of directors of a corporation in the "vicinity of insolvency" owes a fiduciary duty not only to its shareholders but also to its... 

When neither a patent assignment danse in an employment contract or in a policy statement in an internal company document exists, employer ownership of patent rights can be implied for employees who are hired to invent, i.e., those hired either for a specific project or problem or for their expertise in a specific area. If the inventor is an officer or director of a corporation or other business entity, a special obligation to assign may exist as part of the officer s or director s fiduciary duty toward the entity. 

Governments receive the public s tax, so they have a responsibility to protect the public interest. Due to safety and public properties of the external effect , it is difficult for the market mechanism to achieve optimal allocation of resources in mine safety production the public began to demand the government from the perspective of the public interest for the mine production safety management. Safety responsibility will be the government s fiduciary duty. It is entrusted with the responsibility to expand the field of mine safety. Safety audit will become an important element of the audit. 

Under the terms of a trust deed, the issuer agrees to be bound by the terms and conditions of the bond and a trustee is appointed to represent the interests of the noteholders to whom it will have a duty of fiduciary care. Upon the occurrence of a default by the issuer, the trustee—and not the noteholders, except in exceptional circumstances—will be the one who can call an event of defanlt. The trustee can usually agree to make amendments to the terms of the bond and can waive technical defaults. 

---