This common understanding has already begun to articulate itself in the debate over materiality in the context of what is a material or relevant disclosure with respect to shareholder proxy statements.

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But social media is, in every respect, an essential marketing channel that can be employed productively, once material information has been legally disclosed.

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Finally, Authority includes the number of links back to the influencers material from other sites, their position in other online ranking tools, and their respect or standing within the community.

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