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Close Corporation
A closely held corporation that has a limited number of shareholders, often with restrictions on the transfer of shares and typically managed by shareholder-directors.
Business Judgment Rule
A rule protecting business managers from liability for making bad decisions when they have acted prudently and in good faith.
Uninformed Decisions
Choices made without access to all necessary information, knowledge, or understanding, which can lead to adverse outcomes.
Conflicts Of Interest
Situations where an individual's or organization's personal interests could potentially influence or appear to influence their decisions in their official capacity.
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