France and England also recognize a safe harbour from liability for the directors. In Switzerland, the business judgment rule is applied, and its codification is being considered. Even if not codified, the business judgment rule is also applicable elsewhere in Europe. The German model of the business judgment rule also influenced the codifications in Romania and Liechtenstein a similar provision is provided by the Portuguese Commercial Company Act, Art 71(2). The German business judgment rule for members of the management and the supervisory board, introduced in 2005, is based on the US model. Protected are the members of the board of directors in the one-tier board and the members of the management and the supervisory board in the two-tier board. The business judgment rule provides a safe harbour for the directors concerning liability for violations of the duty of care. Prospects for further European developments 4.2 b) The German business judgment rule.
4.1 a) United States as a model for the business judgment rule.European regulations and common European principles
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