Pbomoter

1. A person who, in a popular or penal action (3. v.), prosecuted offenders in the name of the crown and of himself. He was a common informer; he promoted charges. ^ 2. A person who, by his active endeavors, assists in procuring the formation of a company and the subscription to its shares.* Not a term of law, but of business, usefully summing up in a single woi'd a number of business operations, familiar to the commercial world, by which a company is generally brought into existence.^ ' The promoters of a corporation secured subscriptions to its stock without informing purchasers that they were to have stoclt for nothing. Held, that the promoters were fiduciaries, with no right to derive advantage over other stockholders without full disclosure, and that the shares of stock should be transferred, and profits refunded, to the corporation."