General Authorization and the Business Judgment Rule

Corporate attorney Sergio Alejandro Alayón authored an article for Lexir in which he discusses the Decree 046 of 2024. This decree not only addresses conflicts of interest in a new light but also introduces advantages such as the general authorization for legal representatives in conflict within a corporation and the formal induction of the business judgment rule in Colombia. He highlights the significance of these measures in facilitating business management by allowing administrators to make decisions based on their judgment, under the assumption they are acting in good faith and in the company's best interest.

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