In the context of corporate law, discuss the following statement and explain the fiduciary concept in detail:

"Since the decision of the High Court in Hospital Products Ltd v United States Surgical Corporation[1984] HCA 64, it has been accepted in this country that a fiduciary duty arises out of an undertaking, express or implied, by the person incurring such duty."[1]

[1]Oliver Hume South East Queensland Pty Ltd v Investa Residential Group Pty Ltd[2017] FCAFC 141 [33] (Dowsett J).