End of History Thesis for Corporate Law

The end of history thesis for corporate law denotes a particular characterization of a long-standing debate over the function of corporations and their directors’ method of discharging their corporate duties. It was developed by legal academics Henry Hansmann and Reinier Kraakman in their 2001 article of the same name.

The end of history thesis occupies a notable and controversial place within corporate law discourse. Since its advent, it has become the central point around which most arguments about corporate functionality law have been constructed.

Prelude: Corporate Purpose and Directors’ Duties

The primary function of corporations (other than not-for-profit corporations) is to make a profit. Directors establish the corporate policies, agendas, and methodologies by which corporations seek to earn profit. Directors are fiduciaries who owe duties of good faith ...

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