Professor Padfield’s article published in the Oklahoma Law Review


Stefan Padfield’s article, Rehabilitating Concession Theory, has been published in the Oklahoma Law Review. In his article, Professor Padfiled writes that the three primary theories of the corporation are concession theory, real entity theory, and aggregate theory.  This Essay argues that the reports of concession theory's demise have been greatly exaggerated and that there remains a serious role for the theory in discussions concerning the place of corporations in society. This is important because without a vibrant concession theory we are left primarily with aggregate theory and real entity theory, two theories of the corporation that both defer to private ordering over government regulation.