Corporate-Opportunity Doctrine Law and Legal Definition
Corporate-Opportunity Doctrine is a legal principle that directors, officers, and controlling shareholders of a corporation must not take for themselves any business opportunity that could benefit the corporation. They are precluded from using information gained as such to take personal advantage of any business opportunities that the corporation has an expectancy right or property interest in, or that in fairness should otherwise belong to the corporation. The corporate opportunity doctrine does not apply to all fiduciaries of a corporation; rather, it is limited to directors, officers, and controlling shareholders.
In a partnership, the analogous principle is termed the firm-opportunity doctrine.
