Megan Wischmeier Shaner, Associate Dean for Research and Scholarship, provided a summary of her recent law review article for Columbia Law School’s Blue Sky Blog.
The post is based on her article, “Interpreting Organizational ‘Contracts’ and the Private Ordering of Public Company Governance,” which was published in the William & Mary Law Review, Vol. 60:985, 2019.
In her paper, Dean Shaner addresses how, through a surge of governance by private ordering, the charters and bylaws of public corporations are increasingly being used as tools to restructure key aspects corporate governance. Shaner’s analysis of recent trends and court decisions contends that legal battles will morph from validity challenges to interpretation disputes, and that the interpretation of organizational documents will play a significant role in shaping corporate law and norms. In the article, Shaner proposes a tailored interpretive framework for corporate organizational documents.
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