This is a good note. As they point out: directors owe a duty of loyalty to the corporation and its stockholders, which requires that a director act in good faith and in the best interest of the corporation and stockholders, rather than in the director’s own interests or the interests of someone who the director is beholden to, controlled by, or otherwise dependent on.
Provided you can do this there is no legal problem.
There is no direct analogy for something an in-game thing like switching alliances, but in general courts give a large latitude to CEOs and boards to decide what is best for a company provided there is no conflict of interest.
So you wouldn't be able to sell all the assets and distribute the earnings to the CEO - but selling all the assets and distributing the earnings to all shareholders would probably be fine.
Yes you can
> You have to remember that a corporation is legally a person.
It has nothing to do with this whatsoever.
> Good recent note from the Harvard Law review here: https://harvardlawreview.org/print/vol-133/controller-confus...
This is a good note. As they point out: directors owe a duty of loyalty to the corporation and its stockholders, which requires that a director act in good faith and in the best interest of the corporation and stockholders, rather than in the director’s own interests or the interests of someone who the director is beholden to, controlled by, or otherwise dependent on.
Provided you can do this there is no legal problem.
There is no direct analogy for something an in-game thing like switching alliances, but in general courts give a large latitude to CEOs and boards to decide what is best for a company provided there is no conflict of interest.
So you wouldn't be able to sell all the assets and distribute the earnings to the CEO - but selling all the assets and distributing the earnings to all shareholders would probably be fine.