Integrating economics, sociology, philosophy, and psychology, the book investigates contemporary corporate issues through cases and materials that situate the corporation in its social and political setting. This casebook updates the organization of the traditional materials on directors' and officers' duties by integrating materials such as derivative litigation and indemnification. The notes and questions provoke thought not only on legal issues and the relationship between cases and theories, but also on the effect corporations have on their constituents and communities. Additionally, one chapter devoted to the corporation's place in modern society covers traditional issues as well as more novel ones. The fifth edition has been updated with new cases and new material on fiduciary duties, securities regulation (including new material on Regulation D, say on pay, and insider trading), and expanded material on the choice of form.