Private Bribery or Lawful Business Practices? Regulatory differences, benefits conceptual vagueness, and the Challenges for Self-Regulation - European Business Law Review View Private Bribery or Lawful Business Practices? Regulatory differences, benefits conceptual vagueness, and the Challenges for Self-Regulation by - European Business Law Review Private Bribery or Lawful Business Practices? Regulatory differences, benefits conceptual vagueness, and the Challenges for Self-Regulation 37 1

This paper examines the conceptual ambiguity surrounding private bribery and its implications for corporate self-regulation in global markets. Through a comparative analysis of US, German, and Spanish legislation, the study identifies key regulatory differences and commonalities in how these jurisdictions approach private bribery. While US regulations focus on protecting the principal-agent relationship, German and Spanish regulation focuses on fair competition. However, these three jurisdictions face common challenges, too, in distinguishing legitimate business practices from bribes. This paper synthesizes and analyzes legal doctrine and court interpretations to propose practical criteria for differentiating between lawful business practices and corruption. Special attention is given to the role of transparency and commercial rationalities in identifying legitimate business practices. The paper concludes by offering concrete recommendations for corporate self-regulation, including specific guidelines for managing benefits based on their nature, timing, and manner of delivery. These findings provide valuable insights for corporations seeking to implement effective preventive measures against private bribery while navigating diverse legal frameworks.

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