Question

Function of Promoter ​

Answer 1

Answer:

The fiduciary duties of promoters include: not to make any secret profit out of the promotion of the company. Secret profit is made by entering into a transaction on their behalf and then selling the concerned property to the company at a profit, without disclosing the profit to the company or its members.

Answer 2

Explanation:

A corporate promoter is a firm or person who does the preliminary work incidental to the formation of a company, including its promotion, incorporation, and flotation, and solicits people to invest money in the company, usually when it is being formed.