Obligated to Seek Rent?

Here's a corporate governance question, I have, that somebody probably knows the answer to.  So it's well known that corporations like to engage in rent-seeking, i.e. lobbying the government to get special protections or provisions that make them more profitable, often by excluding competition.  The examples of this are too numerous and too common to get into.  It's also known, that corporate boards basically have one obligation, which is to maximize shareholder value.  Does it therefore follow that corporations are obligated to engage in rent-seeking?  I'm sure this is not a new question, and that this has been discussed before, but if anyone knows anything, I'd like to hear more about it. Thank you.

Comments

[Josh]

No, there is no obligation. Businesses in most states are subject to the "business judgment rule" which holds that they only need to be loyal, not reckless and pursue a strategy that they subjectively believe to be in the best interest of the business. There is no obligation to choose one strategy over another.

[ティンバーランド]

１０日が初出席となる大阪府の松井一郎知事は、安全確認を前提としながらも「被災地は大変な状況。日本中で支えなければいけない」と受け入れに前向きな発言をしている。

　ティンバーランド一方、９月の台風１２号による紀伊半島豪雨で発生した大量のがれき処理が問題となり、他府県の応援を受けている和歌山県は、東日本大震災の被災地を支援する余裕はなく、担当者は「受け入れ可能な状況にはない」。