Harvard Law School Forum on Corporate Governance and Financial Regulation
Abstract: In a recent essay, we explore the implications of artificial intelligence (AI) for corporate law. Today, corporate law is primarily understood as a means of facilitating productive activity in business firms. On this view, it is a predominantly private endeavor, concerned with helping parties to lower the costs they encounter. Much of “core corporate law” can hence be explained as responses to agency and coordination problems arising between investors and managers. As a corollary, the impact of business activity on society at large is typically treated as outside the remit of core corporate law, in line with the theory that regulatory norms should apply equally to all actors, corporations or otherwise.