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A corporate promoter is a person engaged in a fiduciary relationship with a corporation or company so that they can legally perform their duties in the name of the company. Also known as a fiduciary officer or a company promoter, the responsibilities for this position can vary slightly by company profession. The promoter is required by law to enter into a state of mutual trust with his employer so that any profits or losses are reported, which allows the promoter to do his job without allowing him to conveniently steal or profit excessively from the company.
A corporate promoter is expected to solicit all funds necessary for the company as well as handle relationships with any co-promoters, stockholders or board members the company might have hired. This allows for the promoter to have almost full control and knowledge of the economic and financial situation of the company to make better company decisions.
Another role of the promoter is that she is usually held responsible for handling any transactions or stock sales/purchases that a company might have, including the actual handling of the deal and the people involved. The promoter will arrange the transaction, the deal and any business meeting with shareholders or board members that might be necessary before a transaction can be commenced.
The promoter is responsible for the solicitation and allocation of funds to be used by the company. Should the company require a new board member, the promoter is responsible for locating, interviewing and ensuring the new board member's suitability to the company.
Using information about stockholders, the current market and solicitors, a promoter is expected to make decisions on behalf of the company. Depending on the company, this can apply to monetary decisions regarding the purchases of stocks, sales management or even employees.
By law a promoter is required to report any and all money transactions to his superior so that the company or board can be certain that the promoter is not making a profit from the company. The promoter is also required to report any personal losses or gains that might result from a decision made for the company. Any disclosures about personal interest or profit in a decision may result in an examination by a board of directors, the company or examination of financial status and upholding of fiduciary duties.