Law undergirds the capitalist system and is “at the interface” of business and social relationships but remains largely walled off from many traditional approaches to management education, scholarship, and practice. Although a simple definition of law is “enforceable rules between...

This article, from The Oxford Handbook of Dynamic Capabilities (David J. Teece & Sohvi Leih, eds. 2016), describes the construct of “legal astuteness” and explains why it is a valuable dynamic capability. It also examines the systems approach to law and strategy, which embeds the top...