In order to take advantage of the business judgment rule,directors must have made an informed decision and have no conflict of the interest with the corporation.

Question

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The business judgment rule states that directors must have made an inform decision, meaning they have conducted enough research and received any necessary advice to make an educated decision, and they must not have any conflict of interest with the corporation, meaning they must always act in the best interest of the corporation, not their own personal interests.

In Order to Take Advantage of the Business Judgment Rule,directors