Most business decisions are associated with a certain risk or success factor, because in business even very rational and well considered decisions may not produce the expected results and create losses. Taking into account the fact that in accordance with the provisions of Section 169, part two of the Commercial Law, the board members are jointly and severally liable for the losses they have caused to the capital company, the question accordingly arises as to whether the board member must be held liable for an unsuccessful business decision. <\/p>\n\n\n\n
This issue is particularly relevant at a time when the sustainable development of companies depends to a large extent on the proactive action and creative approach of the board, the introduction of innovative technologies and products, as well as the implementation of hard to predict measures. How to make such business decisions without exposing yourself to the risk of personal responsibility \u2013 this issue has been addressed by Sworn Attorney Evija Novic\u0101ne, the partner of the law firm NOVIUS. <\/p>\n\n\n\n
Read more:<\/em> <\/strong>Novic\u0101ne E. Biznesa l\u0113mumu pie\u0146em\u0161ana valdes locek\u013ca atbild\u012bbas skatupunkt\u0101 (Business decision-making from the point of view of the board member\u2019s responsibility)<\/em> Balance Sheet Legal Council, November 2019, No. 11 (77), pp. 10-13. Available at: https:\/\/juridiskiepadomi.lv\/nr-11-novembris-2019\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Most business decisions are associated with a certain risk or success factor, because in business even very rational and well considered decisions may not produce the expected results and create losses. Taking into account the fact that in accordance with the provisions of Section 169, … <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-2617","post","type-post","status-publish","format-standard","hentry","category-uncategorized-en"],"_links":{"self":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts\/2617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/comments?post=2617"}],"version-history":[{"count":2,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts\/2617\/revisions"}],"predecessor-version":[{"id":2646,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts\/2617\/revisions\/2646"}],"wp:attachment":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/media?parent=2617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/categories?post=2617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/tags?post=2617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}