Comment no such law (Score 2) 96
There isn't any law requiring a corporation to maximize profits. The Free Software Foundation is a corporation. Do you think they maximize profit? How about the Red Cross, another corporation? The ACLU?
The closest requirements that actually exist are:
Directors and executives can't give THEMSELVES benefits at the expense of shareholders, aside from agreed salary and benefit packages. So they can't give company money (shareholder's money) to themselves.
They must act in furtherance of the purpose(s) stated in the articles of incorporation. Microsoft's articles, like most corporations, say only that it's purpose is for "any lawful business", so there's no restriction there.
The closest requirements that actually exist are:
Directors and executives can't give THEMSELVES benefits at the expense of shareholders, aside from agreed salary and benefit packages. So they can't give company money (shareholder's money) to themselves.
They must act in furtherance of the purpose(s) stated in the articles of incorporation. Microsoft's articles, like most corporations, say only that it's purpose is for "any lawful business", so there's no restriction there.