Category

Small Business
Gibson Guitar Corp., one of the most widely known makers of guitars in the world, was recently raided by the U.S. Fish and Wildlife Service for a failure in the compliance arena. It was not for a violation of the Foreign Corrupt Practices Act, U.K. Bribery Act, OFAC or other more widely recognized anti-corruption statutes....
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The so-called corporate opportunity doctrine prohibits a corporate fiduciary from seizing for herself an opportunity in the corporation’s line of business, unless she first offers that opportunity to the corporation. There is no question whether the doctrine applies to small businesses. The more interesting question is how it applies, given the unique characteristics of many...
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