EXAMINING THE IMPACT OF MULTI-NATIONAL CORPORATIONS ON INTERNATIONAL LAW

AUTHORS – VANSH CHADHA & CHERRY SINGHAL, STUDENTS AT HIMACHAL PRADESH NATIONAL LAW UNIVERSITY

BEST CITATION – VANSH CHADHA & CHERRY SINGHAL, EXAMINING THE IMPACT OF MULTI-NATIONAL CORPORATIONS ON INTERNATIONAL LAW, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1423-1431, APIS – 3920 – 0001 & ISSN – 2583-2344

ABSTRACT

The subject of Multi-National Corporations (MNCs) within the framework of international law has become increasingly significant in today’s globalised world. Multinational corporations are major global economic players, with their economic influence extending worldwide. This economic power can grant them significant leverage over the governments of the countries in which they operate, as the income generated by these corporations often plays a crucial role in those countries’ economies. Additionally, the actions of multinational corporations can impact a country’s legal framework and potentially lead to violations of international law, which may be observed by multiple countries. The influence of multinational corporations can have both positive and negative effects on the host state.

In cases where multinational corporations have a negative impact that results in a breach of either national or international law, the responsible party must face penalties. The entity held accountable for its actions, with associated rights and obligations, is referred to as a legal subject. In the realm of international law, when violations occur, the entity at fault is designated as a subject of international law. These violations may arise from conflicts between legal subjects and can involve various legal subjects.

Multinational corporations are considered subjects of international law and thus also have a significant impact on international law. In such instances, multinational corporations can both violate international law and take legal action in response, which is related to other subjects of international law. This is especially prominent in the financial sector, where multinational corporations often enter into agreements, particularly those related to financial matters.

Keywords: Multi-National Corporations, International Law, Legal Personality, Human Rights.