Bringing businesses together to further the rule of law

Bringing businesses together to further the rule of law

International significance of Business for Rule of LawHow can businesses stand to benefit from assisting to further the rule of law around the world? A bold UN project, supported by LexisNexis, hopes to deliver a framework to guide businesses on how they can further the rule of law.

Introduction

“The most important single central fact about a free market is that no exchange takes place unless both parties benefit.”

This quote from Milton Friedman could well be the strapline for the UN’s Business for Rule of Law (B4ROL) program. Established to create a voluntary framework for businesses to ensure business dealings further the rule of law, the B4ROL project must first convince businesses that they can benefit from furthering the rule of law. Whether or not you support the form of libertarianism put forward by Friedman, there is a seemingly undeniable logic that, in a free market context, the most effective way to preserve the health of the market is to ensure both sides of a transaction stand to benefit.

In an effort to inform the content and design of the final framework, LexisNexis have partnered with the UN Global Compact to organise a series of workshops to gather insight from businesses and lawyers around the world. Through the workshops, held in over 20 countries, the UN hopes to engage with businesses an

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