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The key to having a sustainable competitive advantage is to operate in a way that is difficult to imitate.
Principal-Agent Relationship
A relationship in which one party (the agent) is authorized to act on behalf of another (the principal) in conducting transactions with third parties.
Strict Liability
A legal principle where a party is responsible for damages caused by their actions, regardless of negligence or intent.
Voting Agreement
A legal pact among shareholders to vote their shares in a certain manner.
Business Judgment Rule
A legal principle that protects company directors from liability for decisions made in good faith and in the interest of the company.
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