System problems of corporate legislation harmonization

Introduction. Corporate law in the developed legal systems is changing very quickly. The legisla­tor understands that commercial legal entities are a kind of conductors of free capital. This circumstance forces the legislator to react quickly in order to create optimal operating conditions for commercial legal entities. Creating a favorable investment climate al­lows you to attract free capital which is concentrated not only in banks, but also in commercial organiza­tions. Harmonization of corporate law allows form­ing a favorable investment climate in the relevant jurisdictions. However, the process of harmonization of corporate legislation is fraught with significant difficulties, overcoming of which is the primary task of the legislator.  

Materials and methods. The methodological basis of the research constitutes the following gen­eral scientific and special methods of cognition of legal phenomena and processes: dialectical, formal-legal, comparative-legal, formal-logical, structural-functional.  

Results. In this study the author has focused on the most important aspects of the ongoing harmo­nization of the provisions of corporate legislation of individual states both at the national level and in the format of existing integration associations. In par­ticular, it is noted that one of the main criteria of the form of a commercial legal entity is its investment attractiveness in a specific national legal system. Commercial legal entities are the point of applica­tion of capital. This factor can be considered one of the determining factors in the direction of improving national corporate law.  

Discussions and conclusions. The systematiza­tion of common features of commercial legal entities in various national legal systems made it possible, among other things, to determine the constraining factors of their development both at the national level and within the framework of integration associations. The methods for overcoming such factors are very dif­ferent, depending on the level at which they are used. Scientific discussion in this direction allows us to identify the unique starting points for the regenera­tion of the most conservative provisions of corporate legislation in various national legal systems.

corporate law, commercial legal entities, joint-stock company, limited liability company, public company, private company, investment attractiveness, corporate governance, merger and acquisition, general meeting, legislative reception

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