This research will analyse Transnational Corporations and business ethics within a model of construction of the legal rule, seeking to outline a hermeneutic system applicable to this business sector. In this sense, based on the idea that there are both textual gaps and excesses concerning the textual framework applicable to Transnational Corporations, the core of the problem envisioned here will be to verify which hermeneutic sources and criteria can be used in such cases. For this purpose, the research will be divided into three chapters. The first chapter will analyze the public system of business regulation. The second chapter will focus on the private system of business self-regulation. The third and last chapter will verify how the public and private systems are used together with ethics for the construction of the legal rule related to the transnational corporate sector, in order to verify the hermeneutic model in this segment.