Duty of Loyalty in Companies’ Corporate Relationships

Abstract

The duty of loyalty in companies’ relationships is a matter of great importance taking into account the different position of the authorities and shareholders of the company, the interest of the company and individual interest of shareholders, not mentioning the influence on the stakeholders.
The main characteristic of the duty of loyalty in corporate company relationships concerning the directors is a special care of interest of the company and acting in a way enabling the maximum use of the possibilities of the company (corporate opportunity). Shareholders’ duty of loyalty should be defined as the obligation to execute corporate rights (esp. voting rights) in accordance with the good practice and avoiding conflict of interests. Being involved in a company cannot be considered only from the perspective of profits but also from the perspective of responsibility, that is why the question of loyalty finds interesting in the literature and jurisdiction concerning corporate law.