Abstract
This paper discusses the legal aspects of the activities of transnational corpora-tions. The relevance of the subject matter is determined by the significant impact exerted by transnational corporations on the world economy in general and on the economic situation of the country in which such corporations are registered as a subject of legal form of ownership in particular. Quality functioning of transna-tional corporations is an effective factor for the formation of sustainable devel-opment. This study reveals and determines the relationship between the scale of activity of transnational corporations and their legal status within the framework of both single countries and entire economic communities, the individual subjects of law of which are transnational corporations. The practical significance of this study lies in the possibility of identifying and stating key aspects that play a signif-icant role in assessing the practical activities of transnational corporations in the context of existing legal law with the ability to use the identified patterns in specific legal practice. The results of this study can be of significant practical importance for employees in the field of legal support for the activities of transnational-scale corporations, who are faced with the need to deeply analyse the legal aspects of the activities of these organisations and provide management of such structures with timely, high-quality legal recommendations regarding the correction of the activities of these organisations in the context of the existing legal field.
Highlights
Globalisation today is the key factor determining the main trends of the world economy development
A significant amount of data for analysis was taken from studies of domestic and foreign authors who conducted scientific research in the selected topics: journal and book publications related to issues of the legal aspects of the activities of transnational corporations, studies of the legal aspects of their activities and the impact that corporations of transnational scale have exerted and continue to exert on the economic situation worldwide
The current pace of globalisation of the economy allows transnational corporations in the United States and other leading world powers to use open borders in order to develop the production of goods in regions where the level of associated production costs is lower and sell them where the expected rates of profit are much higher (Yakovlev, 2012)
Summary
Globalisation today is the key factor determining the main trends of the world economy development. There has been a steady trend towards integration and mutual penetration of the economies of leading world powers, which contributes to the formation of a single economic field. System approach and modern information technologies form the optimal model of sustainable development. This in turn ensures the realization of the strategic goal of sustainable development – guaranteeing the well-being of society without harming the interests of future generations. In order to properly consider the main legal aspects of the activities of corporations of a transnational scale, it is necessary to determine the very concept of such a corporation and give it the correct definition
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