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Commerce always requires an institutional embedment. Basically, private Institutions as well as state institutions can provide the normative good of legal certainty understood as the enforceability of contractual commitments. While for domestic commerce, the balance between the importance of...
Persistent link: https://www.econbiz.de/10010735753
Markets are not a natural phenomenon but depend on a complex set of institutions. Commercial law enables and facilitates at-arm's-length market exchange. Competition law regulates freedom of contract in order to protect it from self-abolition. On the domestic level, these core pillars of the...
Persistent link: https://www.econbiz.de/10013066118
In this paper we criticize the so-called 'more economic approach' to European competition law for its disregard of the importance of a functional system of private law. The more economic approach presumes that vertical integration is an economically efficient governance-mechanism. This...
Persistent link: https://www.econbiz.de/10013071116
International business disputes rarely go to court, but sometimes they do.By virtue of the internationally accepted principle of party autonomy, business partners involved in cross-border transactions are entitled to select their forum of choice for any dispute which may arise from their...
Persistent link: https://www.econbiz.de/10013100441
In der juristischen Literatur finden sich zahlreiche Beiträge, die sich mit Folgeproblemen des Phänomens transnationaler Unternehmen auseinandersetzen. Es mangelt jedoch an Beiträgen, die die Grundlagen, also die internen Steuerungsmechanismen und Entscheidungsstrukturen transnationaler...
Persistent link: https://www.econbiz.de/10008697234
Wirtschaftlicher Austausch kann sich nur entwickeln, wenn er hinreichend gegen opportunistisches Verhalten abgesichert ist. In der globalisierten Wirtschaft des 21. Jahrhunderts werden grenzüberschreitende Geschäfte meist nicht durch staatliche Gerichte, sondern durch "Private Ordering" und...
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