Incorporating Democracy: is there a corporate legal duty to respect democratic governance?

Considering the ongoing democratic crisis and the steadily growing participation of transnational companies in the international arena, this study aims to discuss if there is any legal duty of transnational corporations to respect and protect democracy as a human right. It does that by initially discussing Thomas M. Franck article “The Emerging Right to Democratic Governance” at its thirtieth anniversary, revising its thesis in regards to the current stage of democratic decay and changing phenomenons in the international sphere. Concluding on the inexistence of a functional right to democracy, or at least a “dormant” status of the “emerging right to democratic governance”, this paper shifts its attention to the latest developments in the field of business and human rights, both normatively and scientifically. It concludes proposing the use of the terminology “rights of democracy” as an existing legal framework through which companies can be demanded to respect a democratic regime.