A promoter is an individual who takes an active role in promoting the formation of a corporation and in negotiating and entering into agreements or contracts on behalf of the future corporation. In the context of a pre-incorporation contract, a promoter is typically an individual who is involved in the planning and development of the corporation before it is formally incorporated.
Promoters have a fiduciary duty to the corporation and to its shareholders, which means that they are required to act in the best interests of the corporation and to disclose any conflicts of interest that they may have. Promoters may also be held personally liable for any obligations or liabilities that arise from their actions on behalf of the future corporation.
