Business And Human Rights The Evolving International...

Article Reflection and Case Summary 2 Tong, Yiran (Nina) #3480572 University of New Brunswick, Saint John MBA 7102 Deryk Stec Jan 29, 2015 Article Reflections Business and Human Rights: The Evolving International Agenda by John Gerard Ruggie Summary and background This paper analyzes the development of human rights and business in an international view, states the factual issues, and provides strategies to improve the existing realities. The article explains the conceptual challenges to let readers know the basic foundation of international human rights, such as globalization, global value chains, transnational corporate networks, duties and rights. Important Features and Reflections Corporate Responsibility for International†¦show more content†¦Different Perspectives Individuals and corporations have different perspectives and standards. Some of the standards are contrary, so the government and relevant corporations can act the bridge between individuals and corporations. The national legal system gives criminal punishment and limitations for companies’ actions. Rights and Duties A corporation is an independent entity created through a legal process. A group of people put their capital together and incorporate a company in which they subsequently own shares. The shareholders and the corporation are separate entities, each having its own rights and duties. General rights and duties exist that apply to all corporations. However, there are also specific legal obligations that depend on whether the corporation is publicly or privately held. Corporations have a right to own, rent, hire or lease property and where applicable to sell it. One of the duties of a corporation is to pay tax, since it is engaged in profit-making activities. Society needs successful businesses, but today business is taking over society. The unfettered rise of corporate power that presents the biggest threat to free markets, and to the ability of free markets to promote individual freedom, equality before the law and equitable prosperity. Limited liability means power without responsibility and it is spreading fast. Originally a privilege only of publicly-quoted corporations, it has recently been extended to partnerships