from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. the legal duty of a fiduciary to act in the best interests of the beneficiary
Sorry, no etymologies found.
Lets assume for now that we all agree with Richard Posners claim, backed by Clive Crook and others, that corporate managers have a fiduciary duty to maximize corporate profits.
Businesses obviously need to make profits to survive in the marketplace, and they will always have a fiduciary duty to their shareholderscreative capitalism wont change that.