|
| |
Self-dealing is a breach of fiduciary duty that involves directly or indirectly doing deals with yourself. It is characterized by decisions and actions that are in self-interest in violation of a duty to represent the interests of shareholders, clients, patients and anyone else you are representing as a fiduciary.
|
Type | | Definition (1) | | Definition (2) | Acting in self-interest in violation of a duty to act with loyalty and diligence in the best interests of another. | Example | A company that leases office space from a building owned by a corporate officer. A doctor who recommends a treatment to a patient because she is paid incentives by a pharmaceutical company.
A legal guardian who directs a young actress to skip mandatory education in order to make money that benefits the legal guardian in some way.An agent for a buyer fails to disclose material information such as risks because they fear it will jeopardize a commission.A corporate officer who uses corporate funds for personal uses such as wining and dining friends.A corporate officer who awards contracts to firms in which they have some interest.A government employee who exchanges influence for a job offer in violation of their fiduciary duty to the public.A corporate officer who discovers a business opportunity in the course of their work that they take for themselves.A politician who sponsors or supports legislation in exchange for future public speaking fees. | Related Concepts | |
Business Metrics
This is the complete list of articles we have written about business metrics.
If you enjoyed this page, please consider bookmarking Simplicable.
A few examples of conflict of interest.
An overview of Chinese walls as a compliance tool.
An overview of regulatory capture.
An overview of perverse incentives.
The definition of duty with examples.
The definition of crony capitalism with examples.
An overview of cronyism with an illustrative example.
The definition of dual agency with examples.
The definition of professional ethics with examples.
Simplicable is a study site that has been updated daily since 2010.
A list of interesting business theories.
A definition of knowledge work with examples.
A list of social processes, absurdities and strategies related to office politics.
A guide to product development.
The differences between types of knowledge.
An overview of the trough of sorrow.
A list of common business models.
A list of key marketing strategies.
A few sources of competitive advantage for businesses.
TrendingThe most popular articles on Simplicable in the past day.
Recent posts or updates on Simplicable.
Site Map
© 2010-2024 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.
View credits & copyrights or citation information for this page.
|
