Traditional corporate law designs templates for legal entities for organised commercial collaboration among individuals, investors, lenders and licensors serving customers over a long period. In many cases, corporate law is ill-suited to define legal rights and responsibilities among commercial participants under more limited circumstances. For example, a unique framework for such collaboration may be more flexible and desirable where all the participants are micro, small and medium-sized enterprises (MSMEs). In MSME contractual networks, collaboration may be limited to a specific project or may be intended only as a prelude, or experimental cohabitation, to a potential long-term commitment under a future corporate framework. Conversely, MSME ecosystems can help large global enterprises to build reliable, resilient, compliant and efficient global value chains (GVCs).
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