The Team Production Model as a Paradigm

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Cheffins, Brian R 

Margaret Blair and Lynn Stout suggested a few years after the publication of their 1999 Virginia Law Review article, A Team Production Theory of Corporate Law, that their team production model was poised to emerge as part of a new corporate law “paradigm.” In so doing, they specifically invoked Thomas Kuhn’s well-known analysis of scientific revolutions. This Article revisits Blair and Stout’s team production theory by offering a critique of their claim that their model is destined to become a new corporate law paradigm in the Kuhnian sense. In so doing the Article draws upon key corporate law theories and trends to offer insights concerning the team production model.

team production, corporate law theory, managerialism, shareholder primacy, nexus of contracts, shareholder activism, hedge funds
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Seattle University Law Review
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Seattle University
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