Professor Christopher Bruner, the Stembler Family Distinguished Professor in Business Law here at the University of Georgia School of Law, presented yesterday in Company Law Forum, a video-seminar offered by Research Group Companies, Markets and Sustainability, a unit within the University of Oslo Faculty of Law.
The Research Group described Bruner’s presentation, “Private Power and Public Good: Harnessing the Corporation for a Sustainable Future”, as follows:
The corporate form is widely described, and on some accounts defined, by reference to a core set of purportedly fixed, intrinsic attributes. Such depictions of the corporate form typically reflect strong assumptions about which corporate constituencies should be regarded as internal participants in the corporation, and go hand-in-glove with strong theoretical claims about the corporation’s core utility and corporate law’s correlative content. Christopher Bruner argues, however, that such rigid and static depictions of the corporate form and corporate law have fundamentally misconstrued the nature of the entity, giving rise to a host of corporate pathologies that include excessive risk-taking and cost externalization without regard for environmental and social impacts.
Such hidebound conceptions of the corporation have effectively sacrificed the flexibility and dynamism of the corporate form, thereby obscuring potential governance-related regulatory options that could offer promising solutions to a host of vexing problems. In his new book project, tentatively titled Private Power and Public Good: Harnessing the Corporation for a Sustainable Future, Bruner will re-conceptualize the corporation, not as a fixed and rigid set of legal characteristics but rather as a dynamic legal technology that can be calibrated and re-calibrated in varying contexts, and over time, in response to a dynamic landscape. He will then build upon that framework to explore the corporation’s potential to contribute to environmental, social, and economic sustainability.