Legal thoughts on the consideration of the transnational company as subject of International law

Abstract

Up until today, it is not possible to afirm that transnational companies hold the condition of subjects of International law due to the application of the principle of responsibility of States. The main consequence of the former statement is evidenced on the existence of great dificulties for determining the responsibility of the transnational company in the context of International law, particularly upon the occurrence of violations of human rights in the foreign investment field. This article, on the basis of an analysis of the international legal framework in force, offers a proposal of solution that has as main purpose that of offering legal instruments that may help to provide an effective protection of human rights in the context of International law. The proposal is raised from a substantive perspective, by means of incorporating the transnational company as subject of International law, and also procedural, through international arbitration.