The purpose of this article is to analyse the main provisions of the European private company not limited by the provisions as presented by the European Commission in its Proposal for a Council Regulation on the statute for European private company, but also including amendments introduced by the European Parliament and taking into account the negotiations in the Council of the European Union. This article analyses the development of the European (...) private company and explains why such legal form of a company is needed. It provides the analysis of the main provisions of the proposal for the Regulation, the assessment of advantages and drawbacks of the alternatives introduced by the European Parliament and considered in the Council of the European Union, evaluation of the response of these provisions to the specific needs of small and medium-sized enterprises. The article also presents conclusions and suggestions for the improvement of the legal provisions. (shrink)

The objective of this paper is to analyze the effect of privatization on the performance of firms by using a panel data set of 38 companies that were privatized in Europe. We compare the profit, profitability, total product, operating efficiency, net income, employment, leverage and risk of these SOEs before and after their privatization. The legal environment, regulation, goals of privatization and competition characterize each sector, which is why we split the total sample into sectors. Our results indicate that the (...) performance of companies in the utility industry is significantly better after privatization; however, we cannot assert this for the other sectors. (shrink)

The legitimacy of the military is frequently overlooked in standard accounts of jus ad bellum. Accordingly, this paper considers how the military should be organized. It proposes a normative conception of legitimacy – the ‘Moderate Instrumentalist Approach’ – that outlines the qualities that a military should possess. It then assesses the three leading ways of organizing the military according to this approach: the use of private military and security companies (PMSCs), a conscripted force and the all-volunteer force (AVF). The (...) paper argues that the AVF, despite some notable problems, is the most legitimate way of organizing the military. (shrink)

The non-discrimination principle is one of the essential principles in the area of European public and private law too. The importance of this principle also takes a great place in field of company law, especially in the area of “freedom of establishment of the companies” in the European Single Market. Freedom of establishment of companies is closely related to the general concept of “free movement of people, capital, goods and services,” in ESM. In fact, freedom of (...) establishment is a substantive part of the process of creation the internal market in EU. The freedom of establishment is based on the Treaty of the functioning of EU. According to article 49 from TFEU, restrictions on the freedom of establishment of nationals of a Member State in the territory of another Member State shall be prohibited. This prohibition also applies to restrictions on setting-up of agencies, branches or subsidiaries by nationals of any Member State established in the territory of any Member State. In-depth exploration of this issue is conditioned by the interpretation of the Court of justice of European Union, which embodies the real legal regime of freedom of establishment. Freedom of establishment of companies is closely related to the principles of healthy and fair competition and equal access of the companies too. This article seeks to elaborate fundamental theoretical aspects of this issue, considering certain case - study analyze of CJEU judgements. The main focus is on the non-discrimination principle, legal effects of the CJEU judgments, free market and competitiveness, and finally, determination of the concept of primary and secondary establishment of companies in EU. (shrink)

The legitimacy of putting public activities – such as providing education and welfare, but also running prisons or providing military services – into the hands of private companies is hotly contested. In The Privatized State, Chiara Cordelli puts forward an original argument, from a Kantian perspective, for why it is problematic: it replaces the omnilateral will of all citizens, which is realized through public institutions, with the unilateral will of agents to whom these activities have been delegated. While adding (...) an important dimension to the debate, I am not fully convinced that private institutions always fail to realize the omnilateral will, and that this is the only, or always most central, normative problem of privatization. Instead, many concrete cases of privatization seem normatively overdetermined in their wrongness. Nonetheless, Cordelli’s brilliant discussion invites us to rethink these phenomena from an important angle and helps us to better understand what an ideal civil service would look like. (shrink)

University research in the U.S.A. is based on a tight relationship between University and economic activity. In Europe and South America, although less commonly than in the U.S.A., there's already a large amount of experiences related to the creation of "on campus" or "spin off" companies based on the results and knowledge obtained from research in University departments and R&D centres financed with public funds. The virtual base of this results in communication technologies enables private use and the appropriation (...) of the benefits by their authors. European model, historically widely separated from private companies, has produced high quality basic research, but it has failed to obtain profit from technological development. Research funds happen to be basically public. Europe heads for economic, politic and military union. Common economic space and the growing up of the new markets, which we can foresee to be extended to other countries, will promote business opportunities and the relationship University-Industry. University institutions and faculties should think about their current ethic convictions to create a new Industry-University model in the context of a global economy. (shrink)

University research in the U.S.A. is based on a tight relationship between University and economic activity. In Europe and South America, although less commonly than in the U.S.A., there's already a large amount of experiences related to the creation of "on campus" or "spin off" companies based on the results and knowledge obtained from research in University departments and R&D centres financed with public funds. The virtual base of this results in communication technologies enables private use and the appropriation (...) of the benefits by their authors. European model, historically widely separated from private companies, has produced high quality basic research, but it has failed to obtain profit from technological development. Research funds happen to be basically public. Europe heads for economic, politic and military union. Common economic space and the growing up of the new markets, which we can foresee to be extended to other countries, will promote business opportunities and the relationship University-Industry. University institutions and faculties should think about their current ethic convictions to create a new Industry-University model in the context of a global economy. (shrink)

The article presents the results of a study of the interaction between the public and private sectors in the field of outer space exploration. The purpose of the study was to identify the peculiarities of interaction between public authorities and private companies involved in space activities. It has been established that all leading space powers create favorable conditions for attracting private companies to space exploration. The main areas of space activity that are most attractive for private (...) investment are identified: 1) production, launch and operation of spacecraft and launch vehicles; 2)production and operation of ground equipment; 3) space research; 4) satellite observation of the Earth; 5) TV and radio broadcasting and lease of repeaters; 6) satellite internet; 7) mining in space; 8) space tourism; 9) space waste management; 10) cargo delivery to Earth orbit, etc. The current state of the space industry in Ukraine is determined. The main obstacles to space commercialization in Ukraine are also highlighted: 1) legal regulation lags far behind and does not meet the needs of space activities in Ukraine; 2) international agreements are not in line with the level of national regulation of advanced countries and new global trends; 3) Ukraine’s space industry is focused mainly on less profitable areas of the space economy, which reduces the attractiveness for private investors; 4) there is no clear distinction between national interests and commercial activities in space; 5) mechanisms for coordinating private, state and public interests in the context of space commercialization are either absent or extremely ineffective; 6) there are no effective mechanisms for attracting foreign capital to space exploration. The authors identify two main competitive models of the interplay between the public and private sectors in space exploration: “American” and “European.” It is emphasized that both models can serve as a model for the space policy implementation in Ukraine. However, given a number of considerations, it is determined that the “European” model is more optimal. (shrink)

Private companies are data-rich. But market pressures to collect more, store more, and analyze more consumer data can often make them ethically bankrupt in the way of proactively protecting consume...

The first decade of the twenty-first century introduced a cultural shift where terrorism is concerned by making new technologies such as computers and networks available as both tools and targets for exploitation. The current rise in the number of attempts at launching a cyber attack may represent a new generation of “terrorists” and their discontent with governments, private companies, or with other non-governmental groups. Using cyber technologies has many benefits for the user and the potential of causing more damage (...) by a keystroke than a bomb is increasing daily. Despite much recent scholarship on cyber terrorism, however, there continue to be problems not only in defining what cyber terrorism means but in identifying both who are the actors and the panoply of choices actors confront. In this essay, I attempt to clarify these problems by defining key terms and by analyzing the recent escalation in cyber use in the European context. (shrink)

The freedom of expression is ‘the great bulwark of liberty’ and a ‘cornerstone upon which the very existence of a democratic society rests.’ It constitutes one of the ‘basic conditions for [a democratic society’s] progress,’ encapsulating ideas that may even ‘offend, shock or disturb.’ In his Rhetoric, Aristotle argues that free speech is of paramount importance, particularly in the form of a ‘robust public discourse as a means to promote citizen awareness and vigilance.’ To this end, freedom of expression is (...) a central tenet of democratic checks and balances as it allows for an ‘informed consent of the governed.’ Despite the recognition of this freedom since classical times, and the repeated proclamations of support by a variety of institutions, such as the Council of Europe, what is demonstrated, hereinafter, is that the freedom of expression is in a state of severe recession (regardless of the ‘openness’ of a society). This has resulted from a set of interrelated challenges, namely, the stark demise of Internet freedom within the general ambit of a widening conceptualization of hate, and the systematic strategy of moderating ‘hateful’ content. Whilst these challenges are inextricably interconnected with the technological revolution of our times, the authors hold that the fragile positioning of the freedom of expression in the framework of the Council of Europe and, particularly, the approach adopted by the major regional human rights court of the world, the European Court of Human Rights (ECtHR), has facilitated the systematic erosion of the central agora of expression, namely, the Internet and its fora. It is argued that the current _status quo_, as described hereinafter, is marked by a corrosion of _parrhesia_ or free speech itself and, also, of _isigoria,_ namely, the equal right of all to free speech. In light of the above, and for purposes of extrapolating on the challenges to this fundamental freedom, this paper will commence with a normative assessment of the legitimacy and impact of restricting the freedom of expression, followed by an overview of its position in the Council of Europe, with a focus on the concept of hate. Further, and emanating from the ECtHR’S position in _Delfi v Estonia,_ on the liability of Internet intermediaries, it will conduct an analysis of the status of speech online, extrapolating on the issue of ‘hate speech’ and the horizontalization of responsibility _vis-à-vis_ content moderation through the structural juxtaposition of private, profit-making companies deciphering on issues of freedom of expression through, inter alia (yet increasingly) the use of Artificial Intelligence. (shrink)

Lawyers around the world roughly agree on the meaning of private law. Whatever their national origins, they will point to contract and tort and identify their roots in the national private law order. Understanding European private law requires clarification of each of the three composite elements which includes Europe is not a state but a quasi‐state with a multilevel governance structure, the law is not only private but also has a strong regulatory (public) dimension and (...) law cannot be equated with codified law but has a multifaceted character‐ranging from private regulation within a public regulatory frame to contract governance and self‐regulation. Constitutionalization of private law through the increasing use of fundamental rights and human rights ranks high on the political, judicial, and academic agendas. The Draft Common Frame of Reference (DCFR) is designed to operate in a framework based on conventional actors: individual private parties, judges, and the legislator. (shrink)

This paper argues that the approach to questions of authority, legitimacy, and personal identity characteristic of contemporary European law presents a paradox. The power of the legal project that emerged after the French Revolution lay in its deployment of the notion of abstract legal subjectivity to challenge claimed authority. Much is made of the public law dimensions of this revolutionary moment—the creation of political constitutions establishing national citizenship and human rights standards. But the transposition of abstract legal subjectivity into (...) the private law through national social constitutions like Civil Codes has been far less successful.legal subjectivity in public law regimes necessarily privileges some personal identities over others in its construction of citizenship. These privileged identities of public law citizenship limit how legal subjects can express their identities in the private law. The paper proposes an alternative, pluralist, theorization of the diverse, iterative character of everyday human interaction that gives content to the idea of legal subjectivity in the private law. It seeks to reconcile a public law of abstract, unitary citizenship with a private law of plural legal subjectivities in a manner that advances the project of democratic constitutionalism. (shrink)

This book presents startling evidence that state monopolies can produce better outcomes than the free market. It provides an empirical comparison of the property insurance market in five European countries: Britain, Spain, France, Switzerland, and Germany. The market and cost structures of insurers in each country are described, and particular features of each market and the outcomes for customers examined. The regulatory frameworks vary widely from country to country and so do the market outcomes, both in terms of premium (...) level and in terms of available insurance cover.In view of the increase in major floods and other forms of natural damage over the last decades, the non-availability of insurance cover in many competitive insurance systems is likely to become a major political issue. This book shows that state monopoly is an adequate policy response. Competitive insurance systems are shown to provide incomplete cover at a substantially higher cost. In mixed systems, where the private sector can obtain reinsurance from the state the state tends to end up paying most of the costs while the private insurance companies keep most of the premium income.The book will be of interest to academic economists interested in privatization, regulation, the theory of the firm, and insurance; Policy-makers concerned with regulation and privatization; Insurance companies, regulators, and analysts. (shrink)

The possible Stoic origins of the natural rights and natural law theories of the Dutch jurist Hugo Grotius has been a subject of scholarly debate in recent years. Yet discussions about Grotian sociability tend to focus exclusively on the meaning of appetitus societatis in De Jure Praedae and De Jure Belli ac Pacis , with little reference to the historical context. Insufficient consideration has been given to the intended audience of these works, Grotius’ purpose in writing them, and the possible (...) correlation between his overarching argument and his working methods. This article examines Grotius’ use and abuse of Seneca's philosophical works in De Jure Praedae, commissioned by the directors of the Dutch East India Company in autumn 1604.The brutal murder of Sebald de Weert on the island of Ceylon in June 1603 is analyzed from a Stoic perspective in Chapter 15 of De Jure Praedae. Following his refusal to hand over Portuguese prisoners, De Weert and his crew were butchered on the beach of Batticaloa by Wilama Dharma Suriya, the ruler of the island's interior. Grotius blamed the victim. VOC commanders in monsoon Asia should suppress any residual loyalty which they might feel towards Christendom. It was imperative to conclude alliances with native rulers against the Iberian colonial powers, regardless of the rulers’ faith or their horrific treatment of prisoners. As Grotius noted in Chapter 8 of De Jure Praedae, Seneca distinguished between “two kinds of commonwealth, the world state and the city state.” Spanish and Portuguese violations of the natural law – freedom of trade and navigation in particular – deserved condign punishment for the sake of both the fellowship of mankind and, naturally, the VOC and Dutch Republic.In assessing the uses of Stoicism in De Jure Praedae, much can be learned from the physical characteristics of Ms. BPL 917 in Leiden University Library, its sole surviving manuscript copy. Seneca's philosophical works are not cited at all in the original text of Ms. BPL 917, which Grotius copied out in 1604–1605. Instead, quotations from De Ira, De Clementia and De Beneficiis appear in the top and bottom margins of folio-pages or on inserted sheets of paper, which can be dated to 1607–1608. These quotations serve to flesh out an existing argument about the VOC's just war in the East Indies. A case in point is the heavily rewritten Chapter 2. Grotius added quotations from De Clementia at the same time as he reformulated two natural laws on f. 8–9, a folio sheet inserted in or after January 1607. This was no coincidence. Revenging the past misdeeds of the Portuguese, which Grotius had described in great detail in Chapter 11, could no longer be considered the main or only priority of the VOC. Instead, Grotius contended on f. 8–9 that “evil deeds must be corrected” so as to achieve, in Seneca's words, “universal security.” Acting as a kind of global police force, the VOC should punish transgressors of the natural law on account of “that world community” envisioned by the Stoics. The practical consequences were felt during the Twelve Years Truce . Despite a cessation of arms in Europe, the VOC continued to engage in hostilities in the East Indies. The author of De Jure Praedae supported the Company on this. Like Cicero before him, he had successfully harnessed the Stoa to the cause of empire. (shrink)

The possible Stoic origins of the natural rights and natural law theories of the Dutch jurist Hugo Grotius (1583–1645) has been a subject of scholarly debate in recent years. Yet discussions about Grotian sociability tend to focus exclusively on the meaning of appetitus societatis in De Jure Praedae (written in 1604–1608) and De Jure Belli ac Pacis (1625), with little reference to the historical context. Insufficient consideration has been given to the intended audience(s) of these works, Grotius’ purpose in writing (...) them, and the possible correlation between his overarching argument and his working methods. This article examines Grotius’ use and abuse of Seneca's philosophical works in De Jure Praedae, commissioned by the directors of the Dutch East India Company (or VOC) in autumn 1604. The brutal murder of Sebald de Weert on the island of Ceylon (modern-day Sri Lanka) in June 1603 is analyzed from a Stoic perspective in Chapter 15 of De Jure Praedae. Following his refusal to hand over Portuguese prisoners, De Weert and his crew were butchered on the beach of Batticaloa by Wilama Dharma Suriya, the ruler of the island's interior. Grotius blamed the victim. VOC commanders in monsoon Asia should suppress any residual loyalty which they might feel towards Christendom. It was imperative to conclude alliances with native rulers against the Iberian colonial powers, regardless of the rulers’ (lack of) faith or their horrific treatment of prisoners. As Grotius noted in Chapter 8 of De Jure Praedae, Seneca distinguished between “two kinds of commonwealth, the world state and the city state.” Spanish and Portuguese violations of the natural law – freedom of trade and navigation in particular – deserved condign punishment for the sake of both the fellowship of mankind and, naturally, the VOC and Dutch Republic. In assessing the uses of Stoicism in De Jure Praedae, much can be learned from the physical characteristics of Ms. BPL 917 in Leiden University Library, its sole surviving manuscript copy. Seneca's philosophical works are not cited at all in the original text of Ms. BPL 917, which Grotius copied out in 1604–1605. Instead, quotations from De Ira, De Clementia and De Beneficiis appear in the top and bottom margins of folio-pages or on inserted sheets of paper, which can be dated to 1607–1608. These quotations serve to flesh out an existing argument about the VOC's just war(s) in the East Indies. A case in point is the heavily rewritten Chapter 2. Grotius added quotations from De Clementia at the same time as he reformulated two natural laws on f. 8–9, a folio sheet inserted in or after January 1607. This was no coincidence. Revenging the past misdeeds of the Portuguese, which Grotius had described in great detail in Chapter 11, could no longer be considered the main or only priority of the VOC. Instead, Grotius contended on f. 8–9 that “evil deeds must be corrected” so as to achieve, in Seneca's words, “universal security.” Acting as a kind of global police force, the VOC should punish transgressors of the natural law on account of “that world community” envisioned by the Stoics. The practical consequences were felt during the Twelve Years Truce (1609–1621). Despite a cessation of arms in Europe, the VOC continued to engage in hostilities in the East Indies. The author of De Jure Praedae supported the Company on this. Like Cicero before him, he had successfully harnessed the Stoa to the cause of empire. (shrink)

The possible Stoic origins of the natural rights and natural law theories of the Dutch jurist Hugo Grotius (1583–1645) has been a subject of scholarly debate in recent years. Yet discussions about Grotian sociability tend to focus exclusively on the meaning of appetitus societatis in De Jure Praedae (written in 1604–1608) and De Jure Belli ac Pacis (1625), with little reference to the historical context. Insufficient consideration has been given to the intended audience(s) of these works, Grotius’ purpose in writing (...) them, and the possible correlation between his overarching argument and his working methods. This article examines Grotius’ use and abuse of Seneca's philosophical works in De Jure Praedae, commissioned by the directors of the Dutch East India Company (or VOC) in autumn 1604. The brutal murder of Sebald de Weert on the island of Ceylon (modern-day Sri Lanka) in June 1603 is analyzed from a Stoic perspective in Chapter 15 of De Jure Praedae. Following his refusal to hand over Portuguese prisoners, De Weert and his crew were butchered on the beach of Batticaloa by Wilama Dharma Suriya, the ruler of the island's interior. Grotius blamed the victim. VOC commanders in monsoon Asia should suppress any residual loyalty which they might feel towards Christendom. It was imperative to conclude alliances with native rulers against the Iberian colonial powers, regardless of the rulers’ (lack of) faith or their horrific treatment of prisoners. As Grotius noted in Chapter 8 of De Jure Praedae, Seneca distinguished between “two kinds of commonwealth, the world state and the city state.” Spanish and Portuguese violations of the natural law – freedom of trade and navigation in particular – deserved condign punishment for the sake of both the fellowship of mankind and, naturally, the VOC and Dutch Republic. In assessing the uses of Stoicism in De Jure Praedae, much can be learned from the physical characteristics of Ms. BPL 917 in Leiden University Library, its sole surviving manuscript copy. Seneca's philosophical works are not cited at all in the original text of Ms. BPL 917, which Grotius copied out in 1604–1605. Instead, quotations from De Ira, De Clementia and De Beneficiis appear in the top and bottom margins of folio-pages or on inserted sheets of paper, which can be dated to 1607–1608. These quotations serve to flesh out an existing argument about the VOC's just war(s) in the East Indies. A case in point is the heavily rewritten Chapter 2. Grotius added quotations from De Clementia at the same time as he reformulated two natural laws on f. 8–9, a folio sheet inserted in or after January 1607. This was no coincidence. Revenging the past misdeeds of the Portuguese, which Grotius had described in great detail in Chapter 11, could no longer be considered the main or only priority of the VOC. Instead, Grotius contended on f. 8–9 that “evil deeds must be corrected” so as to achieve, in Seneca's words, “universal security.” Acting as a kind of global police force, the VOC should punish transgressors of the natural law on account of “that world community” envisioned by the Stoics. The practical consequences were felt during the Twelve Years Truce (1609–1621). Despite a cessation of arms in Europe, the VOC continued to engage in hostilities in the East Indies. The author of De Jure Praedae supported the Company on this. Like Cicero before him, he had successfully harnessed the Stoa to the cause of empire. (shrink)

As regards the emergence of a European private law in our time, this article shows that lessons can be learnt from the history of unification of regionally defined private law in the German Confederation (1815–1866). An important lesson is that the Europeanization of private law will be anything but a spontaneous process. Moreover, like the members of the German Confederation almost 200 years ago, the members of the current European Union will not have an equal (...) say in the debate about unification of private law. Now, as then, economic interdependencies between the respective members will come into play. That is to say, the members the economies of which are relatively less dependent upon the economies of other members than vice versa are poised to have a larger say in the debate. (shrink)

This article recalls the fact that until the mid-19th century neither company legislation, nor jurists, nor economists, envisioned companies to be private or small. Nevertheless, once freedom of incorporation and general limited liability were enacted, a new practice was set in motion in Britain. Smaller companies were formed in growing numbers, replacing partnerships, family firms and even sole proprietorships. They operated in sectors in which corporations had not been found before. These companies did not seek access to the (...) stock markets. The article tracks the take-up pattern and changing characteristics of the corporate form in Britain between the enactment of free incorporation and general limited liability (1844–62) and the formal legal recognition of the private company (1907). It shows the dramatic increase in annual incorporation and the parallel decrease in the average capital and average number of shareholders in newly formed companies. The article then analyses the reasons for the decision of businesspersons to incorporate their small firms. The main motivations were the possibility to create asset partitioning between personal and business assets and the ability to use the floating charge. Finally, the article examines the legal reaction to the bottom up emergence of the private company. It examines the reactions of the courts (in the famous Salomon v Salomon case) and of the legislature to this unpredicted practice. It argues that incorporators and their lawyers used the available contractual flexibility to privately design Articles of Association and to adjust them to the specific needs of private and small companies, often by introducing partnership internal governance rules into company Articles. The present study relies on newly gathered data on the take-up of the company form and a newly produced sample of company files collected at Companies House and the National Archives. (shrink)

Biotechnology companies have been forced to take account of the social and ethical pressures which increasingly surround their activities. A research project was undertaken with the aims of identifying the practices and procedures which companies put in place as a response to these pressures, and of advising the European Commission on ways by which interaction between these companies and their stakeholders might be improved. Two questionnaires were administered, and although the response rate was not high a reasonably balanced sample (...) was achieved. The results indicated that although there was a high degree of ethical awareness and a willingness to pursue an ‘integrity approach’ to decision‐making as opposed to a ‘compliance approach’, companies on the whole lacked the institutional tools which would enable them to operationalise an integrity approach to corporate decision‐making. (shrink)

Biotechnology companies have been forced to take account of the social and ethical pressures which increasingly surround their activities. A research project was undertaken with the aims (a) of identifying the practices and procedures which companies put in place as a response to these pressures, and (b) of advising the European Commission on ways by which interaction between these companies and their stakeholders might be improved. Two questionnaires were administered, and although the response rate was not high a reasonably (...) balanced sample was achieved. The results indicated that although there was a high degree of ethical awareness and a willingness to pursue an ‘integrity approach’ to decision‐making as opposed to a ‘compliance approach’, companies on the whole lacked the institutional tools (codes of ethics, ethics training, and others) which would enable them to operationalise an integrity approach to corporate decision‐making. (shrink)

A year ago, the "Draft Common Frame of Reference" was published for the first time in an interim outline edition. Now we proudly present the final outline edition of the DCFR. - revision of the already published text to take account of the public discussion - major new topics covered - an additional section on the principles underlying the model rules - revised and expanded list of definitions The six-volume full edition of the DCFR including all comments and notes will (...) be published in October 2009. (shrink)

At the beginning of the year, the Draft Common Frame of Reference (DCFR) was published. The text is the result of the work of a broad range of private law scholars from the Member States of the European Union, and it presents itself as an ‘academic’ document, committed to the precepts of scholarship rather than politics. Notwithstanding its unwieldy name, the text is nothing less than the draft of the central components of a European Civil Code. The (...) following article aims to inform the reader about this potentially important document and to initiate further academic debate about it. Following an overview of the genesis and content of the DCFR (Part 1), the discussion focuses on whether, and to what extent, it is based upon consistent and convincing core aims and values (Part 2). The article then proceeds to address, more specifically, the significance of private autonomy, and it examines the extent to which the proposed rules satisfy the requirements of legal certainty and legal clarity (Part 3). Thereafter, the DCFR is measured against the criteria of internal consistency and systematic integrity (Part 4). Also (Part 5) the question is asked whether the Draft critically reflects and convincingly integrates the sources on which it is based (that is the Lando Commission's Principles of European Contract Law and the Acquis Principles, as well as the private law traditions of the Member States). Also deserving of attention is the inclusion of more than 120 definitions of central concepts of private law, which are not to be found in this form or level of detail in either the Lando Principles or the national private laws (Part 6). (shrink)

The private provision of security services has attracted a great deal of recent attention, both professional and popular. Much of that attention suggests the questioned moral legitimacy of the private vs. public provision of security. Linking the literature on moral legitimacy and responsibility from new institutional and stakeholder theories, we examine the relationship between moral legitimacy and responsible behavior by both private security companies (PSCs) and their stakeholders. We ask what the moral-legitimacy-enhancing responsibilities of both might be, (...) and contribute to both literatures and their managerial implications by detailing the content of those responsibilities, emphasizing the reciprocal nature of moral obligations. We suggest that the moral legitimacy of the industry depends upon responsible behavior by both PSCsandtheir stakeholders. (shrink)

Conventional economic theory portrays privatization as a transformative event for a company, even when it is partial and the state maintains control. According to this view, private investors have stronger incentives than voters to monitor management performance and constrain side-payments to political allies of the government. But how exactly can private investors discipline managers they cannot fire? Proponents of privatization place their hopes on disclosure obligations under securities laws, triggered by privatized companies’ stock exchange listings. They argue (...) that, because company disclosures can reveal side-payments to government allies and cause private investors to abandon the stock, management should avoid political favoritism after a stock exchange listing. The Article explores whether investors responded to indications of political favoritism as the above theory would predict. Case study evidence comes from major privatizations in Greece during the last two decades in telecommunications, energy, and gaming. The Article examines the public disclosures of partially privatized companies in two key areas where the risk of political side-deals and corruption remains high: contracts with suppliers and relationships with labor. Greek companies’ disclosure documents included clear indications that payouts to suppliers and labor continued to increase during the period of partial privatization. However, these companies’ stocks remained attractive to investors. (shrink)

The use of private military force by states has been a long-standing phenomena in the history of warfare. Armies of mercenaries, privateering and recruitment of foreign nationals into armed forces have been common during the Middle Ages and later on. However, with the invention of effective firearms and artillery, standing regular armies, conscription and other developments that resulted in the essential rise of costs of war, the role of private military entrepreneurs diminished. By the end of XIXth century (...) the state became almost the only subject that was able to wage a full-scale war. Nevertheless, already in the middle of the XXth century mercenarism has been reborn in Africa’s colonial and post-colonial wars. The end of the XXth century and the beginning of the XXI century witnesses an enormous rise of private security and military companies (PSMC) that are hired to perform different functions related to use of force not only by states, but also by other clients such as international organisations, transnational corporations, etc. A PSMC may be defined as a profit-seeking private enterprise, which is established according to the national law of the state and which is providing, on the basis of a contract, services directly or indirectly connected with the use of military force or its institutions whether in time of armed conflict or peace, notwithstanding how such company describes itself. International humanitarian law has no specific regulation of PSMC. Nevertheless, it would be erroneous to state that the activity of PSMC is not regulated, because international humanitarian law in any case, in one or another way, is applicable to the personnel of PSMC if it is engaged in armed conflict of either international or non-international character. (shrink)

Peace is more likely where there is trade and commerce between nation-states. However, many nations are "failed states" or "failing states," in large part because of civil wars. Yet, "business" may have a role to play here, too; as private military security companies (PMSCs) proliferate, governments and international organizations seem increasingly disposed to contract for their services, in some cases for combat roles as well as non-combat support roles in various conflict zones. This has raised questions about the ethics (...) of using private companies for public purposes, especially where (as now) private companies have operated outside of legal accountability. This article suggests ways in which such accountability can be put in place, such that PMSCs can actually serve the cause of securing local and regional stability as a first step toward establishing a much safer environment for people and for business. (shrink)

Over the past twenty years, Private Military and Security Companies (PMSCs) have become significant elements of national security arrangements, assuming many of the functions that have traditionally been undertaken by state armies. Given the centrality of control over the use of coercive force to the functioning and identity of the modern state, and to international order, these developments clearly are of great practical and conceptual interest. This edited volume provides an interdisciplinary overview of PMSCs: what they are, why they (...) have emerged in their current form, how they operate, their current and likely future military, political, social and economic impact, and the moral and legal constraints that do and should apply to their operation. The book focuses firstly upon normative issues raised by the development of PMSCs, and then upon state regulation and policy towards PMSCs, examining finally the impact of PMSCs on civil-military relations. It takes an innovative approach, bringing theory and empirical research into mutually illuminating contact. Includes contributions from experts in IR, political theory, international and corporate law, and economics, and also breaks important new ground by including philosophical discussions of PMSCs. (shrink)

Abstract The institution of war is the broad framework of rules, norms, and organizations dedicated to the prevention, prosecution, and resolution of violent conflict between political entities. Important parts of that institution consist of the accountability arrangements that hold between armed forces, the political leaders who oversee and direct the use of those forces, and the people in whose name the leaders act and from whose ranks the members of the armed forces are drawn. Like other parts of the institution, (...) these arrangements are responsive to changes in military technology and needs, to geopolitical facts, and to moral and political norms. In particular, they are sensitive to the forms that military organization takes. Since the emergence of modern states in Europe some 500 years ago, there have been three main such forms: private providers?in the form of mercenaries, in early modern Europe?then professional standing armies, which in turn developed into citizen armies. Although elements of the three organizations have coexisted in many armies, the citizen army model has dominated until recently. That model brought with it a particular conception of the accountability relations between the army, the state, and the people. The state had authority over and directed the army, which was accountable to it. In turn the state was accountable for its use of the army to the people, on whose behalf it acted. The dominance of state authority over the military is now under strain, with the professional and private elements?in the form of private military and security companies (PMSCs)?having increasing importance. As those elements increase in power and presence, so it becomes more difficult to make the state accountable to the people for its use of the military, and more difficult for the people to act as a restraining force on the way in which the military used. In this essay, I outline and assess these developments?with particular emphasis on the emergence of PMSCs?in the light of a liberal view of (political) violence. The essay focuses on the situation in the United States, which possesses by far the most important military force in the world today, and in which the use of PMSCs is most developed. The paper has three main sections and a brief conclusion: the first section sketches the liberal view of violence and its implications for organizations dedicated to its use; the second outlines the salient characteristics of the three historically dominant forms of armies; and the third looks at the current situation in which the three forms coexist uneasily. (shrink)

Private copying exception is an exception to copyright which is present both in Lithuanian national law and law of the European Union. Recent jurisprudence of Court of Justice of the European Union interpreted legal regulation of private copying exception in the laws of the European Union. The mentioned jurisprudence raised concern whether Lithuanian copyright laws on private copying exception and their interpretation in case law of Supreme Court of Lithuania are compatible with the (...) class='Hi'>European Union law. This paper analyses the nature and intention of private copying exception, its reflection in Lithuanian and European copyright law and evaluates Lithuanian laws and case law in the light of recent jurisprudence of the Court of Justice of the European Union. The authors conclude that recent jurisprudence of the Court of Justice of the European Union on private copying exception shall not lead to any dramatic or substantial changes of Lithuanian national copyright laws. (shrink)

The private military industry has been growing rapidly since the end of the Cold War. The Morality of Private War uses normative political theory to assess the leading moral arguments for and against the use of private military and security companies.

This open access monograph argues established democratic norms for freedom of expression should be implemented on the internet. Moderating policies of tech companies as Facebook, Twitter and Google have resulted in posts being removed on an industrial scale. While this moderation is often encouraged by governments - on the pretext that terrorism, bullying, pornography, “hate speech” and “fake news” will slowly disappear from the internet - it enables tech companies to censure our society. It is the social media companies who (...) define what is blacklisted in their community standards. And given the dominance of social media in our information society, we run the risk of outsourcing the definition of our principles for discussion in the public domain to private companies. Instead of leaving it to social media companies only to take action, the authors argue democratic institutions should take an active role in moderating criminal content on the internet. To make this possible, tech companies should be analyzed whether they are approaching a monopoly. Antitrust legislation should be applied to bring those monopolies within democratic governmental oversight. Despite being in different stages in their lives, Anne Mette is in the startup phase of her research career, while Frederik is one of the most prolific philosophers in Denmark, the authors found each other in their concern about Free Speech on the internet. The book was originally published in Danish as Dit opslag er blevet fjernet - techgiganter & ytringsfrihed. Praise for 'Your Post has been Removed' "From my perspective both as a politician and as private book collector, this is the most important non-fiction book of the 21st Century. It should be disseminated to all European citizens. The learnings of this book and the use we make of them today are crucial for every man, woman and child on earth. Now and in the future.” Jens Rohde, member of the European Parliament for the Alliance of Liberals and Democrats for Europe “This timely book compellingly presents an impressive array of information and analysis about the urgent threats the tech giants pose to the robust freedom of speech and access to information that are essential for individual liberty and democratic self-government. It constructively explores potential strategies for restoring individual control over information flows to and about us. Policymakers worldwide should take heed!” Nadine Strossen, Professor, New York Law School. Author, HATE: Why We Should Resist It with Free Speech, Not Censorship. (shrink)

La Cnil est confrontée à une évolution technologique incessante et considérable face à laquelle elle doit rester vigilante. La question des usages se pose au regard des menaces vis-à-vis de l'exercice des libertés. Un double traçage dans le temps et dans l'espace se produit, cristallisant les discours et la personnalité d'un individu de manière indélébile. La protection des données personnelles est appliquée de manière très inégale dans le monde tandis que le G29 fait respecter la législation de l'Union européenne sur (...) son territoire. Alors que la Cnil est amenée à assurer de plus en plus de contrôles, elle manque de moyens qu'il faudrait lui procurer en demandant des contributions aux collectivités territoriales et aux entreprises.To exercise the vigilance required of it, the CNIL - the French Data Protection Authority - has to deal with a continuous stream of technological development, which is often of major significance. The issue of data use needs to be addressed because it raises potential threats to civil liberties. Data leave traces both in space and time, generating indelible snapshots of individual discourses and personalities. Personal data protection is unevenly applied around the world, while the G29 enforces European data protection legislation within Europe. The CNIL is required to apply ever more controls, but lacks the financial resources do to so. These should be provided by contributions from territorial authorities and private companies. (shrink)

The migration of publicly-held companies to private status through use of private equity has been both lauded and lambasted. While agency theorists praise the public-to-private or PTP firm as being an efficient form of corporate governance, others suggest that going private allows owners and managers to extract, rather than add, value.We contribute by developing a categorization of the potential sources of value for the PTP firm. We analyze the effects of each source of value, and find (...) that there are specific negative effects for non-equity stakeholders associated with several sources. Our analysis indicates that the degree to which value is added versus extracted will vary across firms; yet, all will tend to engage in some value extraction. Policy implications are discussed. (shrink)