The firm, they said, was but a series of contractual agreements between the owners and their agents — the managers. (Reuters) Four decades ago, two University of Rochester professors came up with a definitive theory for that “awesome social invention” known as a publicly held company. The firm, they said, was but a series of contractual agreements between the owners and their agents — the managers. And there the matter rested. Until a 20-F filing at the U.S. Securities Exchange Commission by Bangalore-based Infosys Ltd. reopened the contract and raised the question: Can agents ask pesky principals to get off the lawn? Gadfly has argued that some founders of Infosys, long considered a bellwether of India’s software exports, were acting like teenagers in going after… Next »
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