New and interesting papers on SSRN Thursday include:

Envisioning A Global Legal Culture [abstract]
by Charles Koch [faculty profile] of William and Mary School of Law [official website].
From the Abstract: "This paper envisions a global legal culture. This global legal culture will interact with the national legal cultures and will fundamentally change legal practice, even ostensibly local legal practice. Thus, there is a practical imperative in contemplating this evolving legal culture for all lawyers and legal scholars. US lawyers and US legal scholars face a special urgency because we are so far behind others in recognizing the practical importance of understanding the world's legal cultures. This paper hopes to initiate reflections on the blending of legal cultures in the world arena."

Form and Function in Business Organizations [abstract]
by Richard Booth [faculty profile] of the University of Maryland School of Law [official website]
From the Abstract: "In this piece, I argue that the recent proliferation of forms of business organizations in addition to the traditional partnership and corporation may have arisen from the implicit recognition that various organizations may serve needs of business people in different types of businesses, and that traditional theory of the firm explanations are too narrowly focused on market failure explanations for firm formation."