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Full-Text Articles in Corporate Finance
Individual Autonomy In Corporate Law, Elisabeth De Fontenay
Individual Autonomy In Corporate Law, Elisabeth De Fontenay
Faculty Scholarship
The field of corporate law is riven with competing visions of the corporation. This Article seeks to identify points of broad agreement by negative implication. It examines two developments in corporate law that have drawn widespread criticism from corporate law scholars: the Supreme Court's recognition of corporate religious rights in Burwell v. Hobby Lobby and the Nevada legislature's decision to eliminate mandatory fiduciary duties for corporate directors and officers. Despite their fundamental differences, both resulted in expanding individual rights or autonomy within the corporation-for shareholders and managers, respectively.
The visceral critiques aimed at these two developments suggest a broadly shared …