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The Corporate Contract in Changing TimesIs the Law Keeping Up?$
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Steven Davidoff Solomon and Randall Stuart Thomas

Print publication date: 2019

Print ISBN-13: 9780226599403

Published to Chicago Scholarship Online: September 2019

DOI: 10.7208/chicago/9780226599540.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 28 January 2020

Litigation Rights and the Corporate Contract

Litigation Rights and the Corporate Contract

Chapter:
(p.273) Chapter Twelve Litigation Rights and the Corporate Contract
Source:
The Corporate Contract in Changing Times
Author(s):

Verity Winship

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226599540.003.0012

Are corporate charters and bylaws contracts? What is the scope or subject matter of the corporate contract? Is access to litigation part of the bundle of rights that shareholders purchase when they buy shares in a corporation? This book chapter, “Litigation Rights and the Corporate Contract,” examines how one controversial innovation has pushed courts and legislatures to address these fundamental questions about the nature and scope of the corporate contract. That innovation was the use of corporate charter provisions and bylaws to set the rules for resolving internal disputes, especially for shareholder litigation. The emergence of exclusive forum and fee-shifting bylaws pushed lawmakers to be newly explicit about the role of corporate organizational documents. The questions and initial answers have broad implications, reaching all of the ways charters and bylaws define the relationships within the corporation. The emergence of dispute resolution provisions made them express and potentially urgent.

Keywords:   bylaws, charter, exclusive forum, fee-shifting, Boilermakers, ATP, corporate contract, shareholder litigation, shareholder consent

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