This paper explores whether GM crops are a feasible option in the light of social conditions that determine a successful and satisfying deployment of such crops. We use the new institutional economics framework of Williamson to structure four main institutions that we consider crucial for the societal acceptance of GM crops. To create broad support and a proper basis for the use of GM, food safety and environmental regulations, intellectual property rights, entrepreneurship and public debate should all be in place. These four institutions should be seen as four legs of a chair: they are all related and if one or more leg fails the chair will be very unstable. Too much food safety and environmental regulations may however prevent companies from trying to get new seed varieties approved. Also on the degree of IPR protection a delicate balance needs to be struck to encourage R&D yet avoid an undesirable degree of market concentration. Public debate and participatory engagement are important for increasing consumers’ and citizens’ trust but very heated debates can lead to a stalemate that blocks further progress.