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- Title
INDEMNIFICATION AND ADVANCEMENT THROUGH AN AGENCY LENS.
- Authors
DeMott, Deborah A.
- Abstract
The article discusses the indemnification and advancements in the corporate context, which is often characterized as an offshoot of common-law agency doctrine in the U.S. It notes that the right to indemnity allows directors or officers to shift litigation-related costs on the expense of corporations wherein corporations are obliged to bear the cost of an ongoing defense. It further suggests that future revisions of the Model Business Corporation Act (MBCA) should mandate the ways that will develop an environment conducive to indemnification and that advancement agreements should accurately reflect the risks shared between the agent and the principal.
- Subjects
UNITED States; INDEMNIFICATION; CORPORATION law; CORPORATE directors; LEGAL costs; LEGISLATIVE bills; EXECUTIVES; CORPORATE governance; CORPORATIONS; ACTIONS &; defenses (Law)
- Publication
Law & Contemporary Problems, 2011, Vol 74, Issue 1, p175
- ISSN
0023-9186
- Publication type
Article