The Theoretical Foundations of Transnational Law

Transnational law is perceived in this sphere as a third sphere of regulation, alongside domestic laws and public international law. In fact, it is argued that transnational has been carved from its two other counterparts by mutual agreement. Even so, transnational private law is wholly predicated on public law-related regulation, without which it is rendered meaningless. The transnational legal sphere is occupied by both state and non-state actors where, however, state actors cannot employ their law-making authority as leverage. States are happy to operate within this sphere as equals to non-state actors and are content to waive privileges otherwise existing under domestic and international law. Although there is some tendency for the transnational legal sphere to become a haven for activities that are unconstitutional, it is hoped that these are exceptional instances.