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The processes of liberalisation as well as globalisation change the role and importance of different actors and with this the structures of governance. This contribution focuses on the changing role of firms and their increasing potential for action as well as the increasing need for legitimisation of these firms. It presents the double-sided role of TNCs, analyses some main approaches of (self-)regulation and attempts on the basis of work by Ostrom to systemise the responsibilities of firms and the question of control of firms‘ behaviour.