June 07, 2014
Empowering Others Through Loyalty
Posted by Gordon Smith

I just started reading Eric Felton's Loyalty: The Vexing Virtue, and I found this idea in Chapter 1:

Loyalty is about being reliable. Sometimes that helps a group effort, but it can also empower individuals. Sure, we can do more when working together. But I can also accomplish more all by myself if I know I've got someone watching my back.

We usually think of the value of an agency relationship -- with the concomitant duty of loyalty on the agent -- as extending the reach of the principal. In other words, the value of the relationship is to be found in the work done by the agent.

Felton's idea suggests the possibility that the agency relationship also makes the principal more effective. Not just because the agent does things that the principal would otherwise being doing, but because the principal is emboldened in her own work by the support of a loyal agent.

Does that resonate with any of you folks who do fiduciary law?

Agency Law, Fiduciary Law | Bookmark

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