Notes on the Principle of Corporate Social Function in Brazilian Law 11.101 of 2005

Abstract

Current research analyzes the relevance of commercial activity for the Brazilian state during the last decades by an investigation of changes in the juridical order within the commercial field and coupled to social values. Commercial companies start having an important role since corporate activity triggers the circulation of riches, the production of goods and services, job creation, tax payments and other assets. Within the milieu of Private Law there is an overcoming of the old theory of commercial acts made possible by the Italy-derived modern corporate doctrine. Such activities, coupled to the constitutional principle of the social function of property as the bases of the national economic order, makes mandatory the social role in corporate activities. This role must be taken into account in crisis situations, vouchsafed by the principle of the maintenance of corporate activity, a guideline for the company’s recovery discussed in current research.