Corporate agreement as a means of providing security in the course of entrepreneurship development

Lubov Borisovna Sitdikova () and Svetlana Jurievna Starodumova ()
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Lubov Borisovna Sitdikova: Russian State Social University, Russian Federation
Svetlana Jurievna Starodumova: Russian State Social University, Russian Federation

Entrepreneurship and Sustainability Issues, 2019, vol. 7, issue 1, 324-335

Abstract: A corporate agreement has become necessary for entrepreneurship development in Russia in connection with the need of participants of associations to regulate the emerging corporate relationships within the organization in the area of corporate governance and business administration. However, the decade-long experience of implementation of regulations relating to corporate agreements has posed plenty of questions, in particular, about the legal nature of corporate agreements, their scope of validity, and the liability of associations to counteragents for failure to perform their obligations due to limitations set by a corporate agreement. Therefore, the objective of this paper is to explore the legal nature and contents of the corporate agreement as a means of providing security in the course of entrepreneurship development based on analysis of court practice and reception of regulations relating to corporate agreements from foreign legal systems. The conducted research has shown that the subject field and scope of the corporate agreement are not imperatively prescribed by law. The corporate agreement in the Russian legislation has adopted general features of legal regulation common in continental Europe, whereas the contents were borrowed from the Anglo-Saxon law.

Keywords: corporate agreement; administration of legal entities; entrepreneurship; liability (search for similar items in EconPapers)
JEL-codes: K22 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:7:y:2019:i:1:p:324-335

DOI: 10.9770/jesi.2019.7.1(24)

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