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학술저널
저자정보
저널정보
한국상사판례학회 상사판례연구 상사판례연구 제22권 제4호
발행연도
2009.1
수록면
3 - 39 (37page)

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The business judgment rule has been a part of the American legal system for about 180 years. It was implemented with the aim of respecting the independence of the boards in taking business decisions, by lessening the interference of judicial review. Currently, it is believed that this rule will be enforced in Korea, and most Korean scholars are supporting the introduction of this rule. However, it is reasonable to consider the business judgment rule not as a rule of law but as a judicial policy. Also, the business judgment rule has several problems when viewed from the standpoints of the protection of the interests of shareholders and corporations. First, the basic logic is weak. Second, the "informed basis" factor is unreasonable. Third, the "good faith" factor is overlooked. Fourth, the business judgment rule can be abused as a guideline in order to avoid responsibilities. Finally, it can deteriorate into a "no liability rule."

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