The Business Judgment Rule — A Corporate Officer’s Best Friend

by William J. Piercy

The business judgment rule is a policy of judicial restraint born of the recognition that corporate officers and managers are generally more qualified to make business decisions than are judges and juries. While the business judgment rule has long been accepted in many states, until recently, it …

Opportunity Knocks, But for Whom?

By William J. Piercy

A common issue faced by the corporate officials of a closely held company is whether they are obligated to pursue new all business opportunities presented to them on behalf of the company, or whether they may do so on their own or with others.  A corporate opportunity …