What is Duty to common?
The principle (sharpened by In re Trados) that when preferred and common interests diverge at an exit, directors are bound to act for the common stockholders, not simply to deliver the preferred's return.
Where you will use it: this term comes up in the Entrepreneurial Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Entrepreneurial Finance course by Devon Coombs, CPA, MBA.