Legal instruments for regulating the activities of TNCs

Kolikova Yulia Dmitrievna

This study examined the issues of international legal regulation of the activities of transnational corporations were considered. The international legal regulation of the activities of TNCs is characterized by recommendatory and declarative norms. In view of this and the lack of a single legal personality for TNCs, TNCs rely in their activities on the provisions of international regulations, but only to the extent that it is beneficial for them to maintain competition, maintain popularity with the consumer and their reputation. Despite their significant role in influencing global processes, TNCs are not subjects of either public international or private international law. The subjects of international private law are only within their structural elements, having a personal law of a legal entity (lex societatis). At the same time, in the future, the allocation of a single status of TNCs will only become more complicated due to the processes of globalization and digitalization.

Keywords:transnational corporations, legal personality of TNCs, UN Global Compact, international treaties, OECD.