The rapid growth in demand for private military and security services among states,international organizations and non-state actors has turned this activity into a powerful industry withmillions of people who perform – on a contractual basis and in exchange for monetary rewards – actions,which, however, often pose risks to the rights of others, local communities and nations around theworld. The author explains the urgency of the article by high-profile cases of possible participationof private military companies in the events of the occupation of Crimea and the armed conflict inDonbas, initiation of new legislation on military consulting in Ukraine and, at the same time, by themodest attention of Ukrainian jurisprudence to human rights obligations of companies providingsecurity services as non-governmental entities. The author examines the evolution of some approaches to the international legal regulation of private military and security activities and their compliance with modern approaches to humanrights. The author analyzes the features of corporate responsibility in the field of human rights ofprivate military and security companies, the content of which is embodied in the InternationalCode of Conduct for Private Security Providers (ICoC). The analysis compares the approaches ofthe International Code of Conduct for Private Security Providers and the UN Guiding Principleson Business and Human Rights.