The conception of Business Judgment Rule in the U.S. corporate law

This article provides a study on corporate governance in U.S. corporate law paying a special attention to the application of several legal rules in this field on which bases is it is regulated , in particular Business Judgment Rule («BJR»). «BJR» can be defined as a doctrine or a legal rule which presents a major valuation category in the U.S. corporation law being applied to board of directors' business decisions bounding their fiduciary duties. It defends directors from the personal liability which run out on the ground of their duties to manage the corporation. The question on directors' liability presents a very actual and interesting issue for the business world and the corporate law in particular, and due to these facts «BJR» renders a great interest for research and practical purposes.

fiduciary duties, corporate governance, board of directors, good faith, duty of loyalty, duty of care, business judgment rule