The professorship was established jointly by the Torsten Söderberg Foundation and the Ragnar Söderberg Foundation to mark the 100th anniversary of the Faculty of Law at Stockholm University in 2007. The donation, amounting to 25 million kronor, funds a research professorship in jurisprudence that may be held by professors at the faculty for a period of up to four years. During this period, the holder is normally expected to devote all their time to research and is thus exempt from teaching duties.

The chair will promote research in the spirit of the famous Lund professor Samuel von Pufendorf and strive for a peaceful order. The chair can be held by a professor at Lund University, primarily in the fields of law, economics and political philosophy (state theory). The chair is held for a maximum period of four years.