This chapter presents the current dilemma brought about by the classic theory of sovereignty. It argues that this theory is not timeless, and that it has run its course. As such, the dilemma is presented as a choice between forswearing all the classic concept's criteria, in which case the concept is meaningless, or clinging to one or more of them, in which case the concept is pernicious. The chapter then goes on to address three attempts to escape the dilemma by reframing the concept. The first to be addressed is popular sovereignty. Another approach to reconstructing the concept lies in focusing on marks (an older locution) or incidents of sovereignty. Finally, there is the so-called “Schmittian Exception,” which relies on Carl Schmitt's claim that “Sovereign is he who decides on the exception.”