What is the purpose of the company? In 2019, the Pacte Act (Action Plan for the Growth and Transformation of the Company) changed the definition of the company, which had been stable since 1804. This reform, like others abroad, introduces the question of the purpose of the company into the law. However, French law is based on a new substantive argument: it proposes a new conception of the company and its responsibility in the 21st century.

This column is based on a column written for the MAIF Letter to Elected Members in February 2020.

The entire article is available in French.

Chronicle of 20/02/19, with kind permission of Alternatives Economiques©