The current global development environment does not correspond with the development interests of the majority of humanity, as it does not incorporate automatic mechanisms for the less developed parts of the world to develope more quickly, i.e. for them to catch up. In fact quite the opposite is true. The current environment is increasing the information, economic and social gulfs that devide developed and developing nations and thus it threatens the achievement of harmonious global development, and at the same time increasingly endangers both the natural environment and numerous civilisations. In the last decade continental corporate law scholars have been predominantely engaged in determining the scope of corporate law and defining approaches to achieve those goals. There have been noumerous debates on efficieny and quality of different corporate law systems, including disputes on convergence and divergence of angloamerican and continental systems. European legal science has been influenced by the US law and economic approach, that sees corporation as one of the most important generators of economic development and efficiency. Such understanding of corporate law includes an idea of corporation as supranational formation, that is persistently directed only towards ensuring competitivness in relation to other global players. Exaggerated emphasis on efficieny of the corporate law equalizes national states to corporations and forces them to act and react as if they were business entities. Findings of our research program indicate that efficiency can not be the only criterion when evaluating suitability of the system. Namely, such approach does not always leed to positive results in natural and social environment and does not contibute to sustainable development and social consensus.