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1798 points jerryX | 1 comments | | HN request time: 0s | source
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georgeek ◴[] No.18567701[source]
Just a reminder that Google, or any company for that matter, has a fiduciary duty towards their shareholders to file a patent for everything they have learned about and that hasn't been patented yet.
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kbutler ◴[] No.18567767[source]
There's a common myth that companies have "a fiduciary duty" to make as much money as possible (especially short-term), but this has no basis in law in the US.

https://caselaw.findlaw.com/us-supreme-court/13-354.html "modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else, and many do not do so... a for-profit corporation may take costly pollution-control and energy-conservation measures that go beyond what the law requires. A for-profit corporation that operates facilities in other countries may exceed the requirements of local law regarding working conditions and benefits. "

https://www.nytimes.com/roomfordebate/2015/04/16/what-are-co... "companies that maximize profits by firing employees, avoiding taxes, selling shoddy products or polluting the environment can harm their shareholders more than helping them."

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1. philpem ◴[] No.18567881[source]
Thing is, if a CEO doesn't pursue profit and shareholder dividends above all else, they probably won't last long until the investors and board members vote them out.