Relationship between Business Corporations' and Human Rights: A Legal Analysis

Abstract

This article explores the ‘relationship between the business corporations and human rights’ in legal context. ‘Business corporations’ is a powerful vehicle for economic, social, and cultural amelioration; particularly in developing countries via job creation and diffusion of technology, scientific advances, and management skills. They are expected to respect the sovereign interest of the host State. The latter is in turn also duty bound to reciprocate by fulfilling what it has undertaken while contracting with the business corporations. This article begins with a brief introduction, followed by making a legal analysis of the definition of legal personality of business corporations; explaining the importance of corporate social responsibility in the human rights context in this globalized market; focusing on liability of business corporations for violation of human rights; making a legal analysis on international regulations to control business corporations including SRSGs draft ‘guiding principles’ for the implementation of the United Nations ‘protect, respect and remedy’ framework; analyzing the case laws related to the human rights litigations against business corporations; and finally concluding with few suggestions to improve the litigation and framing of international legal settings for regulating ‘business corporations’ for abuse of human rights.

Keywords: Business Corporations, Multinational Corporations, Transanational Corporations, Human Rights

JEL Classification: K33, K22, K20