| Degree of Culpability |
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| Typically, directors who conduct the corporation's business must exercise the care that an ordinary prudent person would exercise in the management of his or her own affairs under similar circumstances. This "ordinary" standard of care has been adopted by a majority of states and enacted in their corporation statutes. However, courts consistently interpret the culpability standard for the duty of care as one of gross negligence. More... |
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| The U.S. Foreign Corrupt Practices Act |
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| Corrupt payments to foreign officials to obtain or keep business are prohibited by the U.S. Foreign Corrupt Practices Act. There are five elements of a violation of the provisions of the Act prohibiting bribery of foreign government officials. More... |
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| Business Conduct Codes |
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| Business Conduct Codes for New York Stock Exchange and Nasdaq Listed Companies More... |
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| Guide to Remedies for Anticompetitive Mergers |
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| The U.S. Department of Justice in October 2004 issued the "Antitrust Division Policy Guide to Merger Remedies" to provide insight for businesses into the policies that Antitrust Division attorneys and economists will follow in determining what remedies will be sought for mergers or acquisitions considered anticompetitive by the Department of Justice. More... |
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| The Federal Antitrust Law Exemption for State Action |
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| Federal antitrust laws are considered inapplicable to economic regulation by the States. In Parker v. Brown, 317 U.S. 341 (1943), the Supreme Court reasoned that in the "dual system of government" of the United States, any subtraction by Congress from the sovereign powers of the states must be explicitly stated. Nothing in the Sherman Act (the first federal antitrust law) or in the legislative history of the Sherman Act indicated a Congressional intent to subject state regulatory activities to the Sherman Act. More... |
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