Forms of implementation of corporate rights of the members of commercial corporations: history, current contradictions and development prospects

Abstract

The purpose of the study is to identify problems arising from the discrepancy between the norms of the current corporate legislation, whose basic principles were laid down during the development of the industrial type of economic development, and the current stage, characterized by the active development of the post-industrial type of economy. The subject of the study is the forms of realization of the corporate rights of members in commercial corporations, and, above all, business entities. The research employs the following scientific methods of analysis: historical analysis of the influence of economic development factors (types of activity, scale of activity, significant resources) on the forms of exercising corporate rights of corporation members and analysis of correspondence of modern forms of realization of corporate rights to the system of interests of the members of post-industrial types of corporations at the modern stage of economic development. The research results. In the traditional economy of the industrial type, the main significant resource is non-current tangible and current assets. Today their cost estimate determines the volume of corporate rights. In the post-industrial economy, non-current intangible assets become the main significant resource; their evaluation seems to be problematic in a significant number of cases. The research reveals the problems of inconsistency of modern forms of realization of corporate rights of members in the post-industrial corporations with the system of interests of members - carriers of a creative resource (ideas, professional knowledge, etc.) - in such corporations. Practical implementation of the research outcome is realized in suggestions and recommendations that can be applied both in the field of improving corporate legislation and legal support of commercial corporations’ activities. Among other things, a forecast of trends in the development of corporate legislation in terms of implementation of corporate rights has been worked out.

Keywords

• commercial corporations
• corporate rights
• post-industrial economy
• shareholding companies