The new Lex Mercatoria and transnational governance

@inproceedings{Hoffmann2006TheNL,
  title={The new Lex Mercatoria and transnational governance},
  author={Stanley Hoffmann},
  year={2006}
}
Over the past four decades, the transnational business community has successfully built a private system of transnational governance: the new Lex Mercatoria. The actors who operate this system - firms, their lawyers, international arbitrators, and legal academics - have evolved, and use, 'a-national' principles of contract and a system of private 'courts' to organize and regulate cross-border com- mercial exchange. National legal systems have adapted to the Lex Mercatoria, thereby enhancing the… CONTINUE READING

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