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The Business Judgment Rule (BJR) is a rule developed by the case law of the American courts that establishes that judges will respect directors' business decisions, as long as they made an informed decision, in the best interest of the company and without violating the law or breaching their fiduciary duties. This paper reviews the application of the BJR in Colombia and the unsuccessful bills presented on this matter. In addition, it aims to analyze the economic implications of its adoption and, through a qualitative methodology and from a law and economics perspective, demonstrates its significant macroeconomic and microeconomic benefits. [ABSTRACT FROM AUTHOR]

The study of the intellectual property rights has been limited to establish mechanisms of protection for author's interests and in the legal benefits for the exclusive exploitation of their creations. More over the law and economics movement propose a new vision for these matter, looking for efficient systems to balance the author's particular interest in recover the invest made in their creation and the social interest in access to these novel creations This paper pretend to apply these new visions in the particular case of Colombian copyright law. [ABSTRACT FROM AUTHOR]