The broad remit of this group is to examine how private law (broadly defined, including property, torts, contracts, but also corporate law, etc.) can best deal with globalization trends through an institutional analysis. The idea is to look at how both bottom-up forces (i.e., market actors) and topdown forces (courts, legislatures, regulators on the national and supranational levels) can design not only substantive rules but also mechanisms and procedures for standard-setting and disputeresolution in a way that is both economically effective and considerate of geopolitical prospects and limits.