  We have described properties of LiCoO_2 within the Quantum Atomistic Solid
State (QUASST) theory taking into account very strong electron correlations,
predominantly of the intra-atomic origin, spin-orbit coupling and the detailed
local crystallographic surroundings and its symmetry. Properties of LiCoO_2 are
consistently explained together with NaCoO_2 and LaCoO_3 - in all of these
compounds the Co^3+ ions occur in the low-spin state. This low-spin state is
the effect of the relatively strong crystal-field interactions (B_4^z = +320 K
<=> 10Dq = 3.3 eV) and is a manifestation of the very large orbital moment of
the Co^3+ ion.
