Multinational (Transnational) Companies as Subjects of Public International Law // Multinacionalne (transnacionalne) kompanije kao subjekti međunarodnog javnog prava

Abstract

The paper deals with international legal status of multinational (transnational) companies. The first part gives an overview of this entities and the specifics of their role in the modern world.
In the second part, the author deals with the elements of international legal personality of multinational (transnational) companies. Such as international legal regulation of the position of these entities, their specific rights and obligations under international law, international responsibility, process subjectivity before certain international judicial bodies and the special relationship (partnership) with international organizations. It should be added that not only that international law acknowledges their existence, but also multinational companies themselves at least in part influence the development of that law.
In the concluding remarks the author notes that multinational (transnational) companies do not have all the elements of a full international personality, the one that is inherent to states. However, even if not complete their personality is beyond doubt. Although between them, depending on the case, there are major differences, there is no dispute that, from the perspective of international law, at least some multinational companies have the legal capacity (the ability to be the holder of a larger or smaller circle of rights and obligations established by international law), legal capacity (the ability to conclude international agreements, create international custom, etc.), tort capacity (the ability to provide for the legal bears responsibility for violating the norms of international law), process capability (active and passive legitimacy before some international courts), etc. In all likelihood, along with the expected further strengthening of the economic, but also political and every other power and role of the companies themselves, their international personality will also become more and more developed, At one point this will require global (universal) agreement which would precisely define rights, but, in particular, the duties and responsibilities of these entities.