In BCE, the Supreme Court of Canada made it clear

In BCE, the Supreme Court of Canada made it clear that the decisions of directors are to be given great weight. Provided directors follow the proper process and have regard to the interests of all stakeholders affected by their decisions, their balancing of conflicting stakeholder interests in determining the best interests of the corporation will be treated as a matter of business judgment not to be overturned by the courts unless it falls outside the range of reasonableness. What is meant by business judgment? The Supreme Court of Canada confirms the importance of process in directors’ decision making. What are the key elements of that process? In other words, what steps can directors take to lessen the chances of a court second-guessing their decisions?
Stakeholders
A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees,...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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