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Relating Fiduciary Duties To Corporate Personhood And Corporate Purpose, Lyman P. Q. Johnson
Relating Fiduciary Duties To Corporate Personhood And Corporate Purpose, Lyman P. Q. Johnson
Lyman P. Q. Johnson
The subjects of corporate personhood, corporate purpose, and fiduciary duties are all central to corporate law discourse. But what is the relationship of each of these to the others? This chapter describes how corporate personhood, corporate purpose, and fiduciary duties are vitally and coherently connected. While longstanding debates about the theoretical nature of corporateness likely will continue, corporations are meaningful socio-legal entities separate and distinct from those persons associated with them. With respect to corporate purpose, the objective or “mission” of a business company is to provide goods or services in a particular manner, goals that may in part be …