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Legal Foundations of Founder Centrism

By Claudio R Rojas

In revisiting apparent contradictions within the Supreme Court’s decision in BCE Inc. v. 1976 Debentureholders, this article illustrates a significant evolution in the jurisprudence – challenging the applicability of both shareholder primacy and stakeholder theory. In rejecting these established theories in favour of an organizing ‘principle of fair treatment’, Canadian corporate law reflects elements of Warren Buffett’s novel approach to corporate governance. This article is seismic in its implications and establishes the legal foundations of founder centrism.

The author's perspective on Berkshire Hathaway's investment philosophy was informed by discussions with Warren Buffett in Omaha, Nebraska with thanks owed to Professor George Athanassakos for the meeting.

Read the full article here.

Claudio R Rojas is a founding member of the Institute for Founder Centric Studies, holds an MBA from the Ivey Business School, Juris Doctor from the Faculty of Law at Western University, has achieved all three levels of the CFA examinations, is a practitioner member of the European Corporate Governance Institute, and is a lawyer member of the Bar of Ontario, Canada.

Suggested Citation: Rojas, Claudio R., An Indeterminate Theory of Canadian Corporate Law (January 2014). University of British Columbia Law Review, Vol 47:1, 2014. Available at SSRN:

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