Business Judgement Rule (BJR) - Liechtenstein


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PDF The Business Judgment Rule

The business judgment rule implicates director fiduciary duties of due care good faith and loyalty The rule affords a fiduciary some protection when for example the fiduciary participated in a properly investigated decision or transaction that because of an honest mistake in business judgment does not attain the desired result

PDF The Concept of Business Judgment

judgment rule (BJR) through either case law as in Delaware in the US or legislation as in Australia While subject to different formulations across jurisdictions this essentially provides that if a director’s action or inaction can be categorised as a business judgment the director is

PDF THE POSITION OF THE BUSINESS JUDGMENT

The Americancourts developed business law bydevising principles for resolving the rift between shareholders and the management Animportant principle in this respect is the Business Judgment Rule (BJR) The BJRhas attained an important positionin the American corporate law However ithas failed to flnd suchposition in the laws

  • Does the business judgment rule create unintended costs?

    Moreover, it points out that the implementation of the business judgment rule may actually create new, unintended costs. By re-examining the law and economics of the business judgment, this article draws conclusions about the most efficient way to implement the business judgment rule across jurisdictions.

  • Should the business judgment rule be codified?

    Likewise, defending the codification of the business judgment rule in jurisdictions – such as California – where the business judgment rule is not clearly supported by courts, see Melvin A. Eisenberg, Background Study for the California Law Revision Commission on Whether the Business-Judgment Rule Should Be Codified (May 1995).

  • What are the levels of application of the business judgment rule?

    In this paper, the author suggests several levels of application of the business judgment rule: (i) low, when there is only an implied business judgment rule applied by courts; (ii) medium, when the business judgment rule is strongly supported by courts; and (iii) high, when the business judgment rule has been codified.

  • What is business judgment?

    Business judgment is an ill-defined but nuanced concept. We found that the courts utilise two meanings of the term judgment. One defines it in terms of experience and ability, the second in terms of decisions. It has been argued that when the courts consider what distinctive abilities directors have, they think of entrepreneurial ability.

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