The business judgment rule accepted by most US jurisdictions is intended to protect officers and directors from liability where they have made decisions in good faith and using appropriate procedures, even if those decisions turn out to be poor or have negative...
IN VERITAS – The BayneLaw Advantage
Corporation & Company Law
Business Judgment Rule: Directors and Officers May be Held to a Fiduciary Duty of Care.
Directors and officers owe a fiduciary duty to the corporation and, by extension, its shareholders. The duty of care requires directors and officers to act in as competent a manner as would reasonably prudent people in their positions. Officers and directors must make...
Are Directors and Officers Protected from Liability When Acting for a Company?
The law surrounding the insulation of directors and officers from liability is voluminous and fraught with important exceptions. In the United States, each State has its own corporate and company law statutes and varying levels of protecting directors and officers...