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Activities Affected by the Duty of Loyalty

15 January, 2016 - 09:35

The duty of loyalty means, again, that partners must put the firm’s interest above their own. Thus it is held that a partner

  • may not compete with the partnership,
  • may not make a secret profit while doing partnership business,
  • must maintain the confidentiality of partnership information.

This is certainly not a comprehensive list, and courts will determine on a case-by-case basis whether the duty of loyalty has been breached.