What is Fiduciary duty?
A director's legal duty of care and loyalty to act in the interest of the corporation and its shareholders as a whole, not any single investor or the founder alone.
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.