 If the opportunity was disclosed to the board of directors and the board declined to take the opportunity for the corporation, the fiduciary may take the opportunity for him- or herself.When the corporate opportunity doctrine applies, the corporation is entitled to all profits earned by the fiduciary from the transaction.In the leading English law case of it was held that "The rule of equity which insists on those who by use of a fiduciary position make a profit, being liable to account for that profit, in no way depends on fraud, or absence of "bona fides" ... or whether the plaintiff has in fact been damaged or benefited by his action."