LIECHTENSTEIN Law and Practice Contributed by: Alexander Appel, Andreas Schurti and Hemma Kohlfürst, Schurti Partners Attorneys at Law Ltd
8.3 Liability Exposures Arising From AI Use In the absence of a specific legal framework for the use of AI, liability exposures for boards and officers in Liechtenstein arise from general corporate law. Accordingly, members of the board must lead the company with the care of a prudent businessperson. If an officer makes a strategic AI decision without ade - quate information, they can ultimately be held person - ally liable for resulting damages to the company. 8.4 Key Disclosure Requirements for AI Use There are no AI-specific disclosure requirements under Liechtenstein law.
rectly from general corporate governance principles set out in the PCA. 8.2 AI Use-Related Risks In Liechtenstein, there is no specific legal framework regarding the use of AI. However, governance of AI use-related risks is addressed through a combination of general corporate law and the emerging application of the EU AI Act within the EEA. Therefore, under the PCA, AI risks are still managed through the general “standard of care” required of management. Since members of the board are legally required to lead the company with the care of a prudent businessper - son, this includes making informed decisions, which necessitates understanding and mitigating the risks of AI integration into business models. In the absence of specific statutory structures for AI governance, responsibility is allocated in accord - ance with general corporate governance principles under the PCA. The board of directors retains overall responsibility for AI strategy, oversight and govern - ance. This includes ensuring that the scope of the use of AI is aligned with the company’s strategy and that appropriate duties of care, supervision, and risk management are fulfilled, including the establishment of adequate control systems.
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