{"title":"Problems of the Management of Legal Entities of Private Law in Georgia","authors":"Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze","volume":94,"journal":"International Journal of Economics and Management Engineering","pagesStart":3437,"pagesEnd":3441,"ISSN":"1307-6892","URL":"https:\/\/publications.waset.org\/pdf\/10004819","abstract":"Importance of management of legal entities under
\r\nprivate law of which especially corporate management, as well as
\r\nlooking for ways of its improvement and perfection has become
\r\nespecially relevant in the twenty-first century, which was greatly
\r\ncontributed to by the global economic crisis. Some states have adopted
\r\nCorporate Governance Codes; the European Union has set to work on
\r\na series of directives the main purpose of which is an improvement of
\r\ncorporate governance, provision of greater transparency and
\r\nimplementation of an effective control mechanism. This process is not
\r\nyet completed, and various problematic issues associated with
\r\nmanagement of legal persons are still being debated among
\r\npractitioner experts and scholars. Georgia is not an exception in this
\r\nregard. The article discusses the legislative gaps, and in some cases,
\r\ndiscrepancies having arisen in legal relationships under private law and
\r\nhaving caused many practical problems. This especially applies to the
\r\nmanagement of capital companies.","references":"[1] Communication from the Commission to the European Parliament, the\r\nCouncil, the Economic and Social Committee and the Committee of the\r\nRegions Towards a Single Market Act \u2013 for a highly competitive social\r\nmarket economy \u2013 COM (2010) 608final\/2, pg. 27;\r\n[2] Georgia Supreme Court \u201cabout Entrepreneurs\u201d of law as a result of\r\nrecommendations of workshop and materials, Tbilisi, 2009, page.9;\r\n[3] CACG Guidelines \u2013 Principles of Corporate Governance in the\r\nCommonwealth towards global competitiveness and economic\r\naccountability; November 1999; pg.1;\r\n[4] The Law of Georgia \"On Entrepreneurs\".\r\n[5] L. Chanturia, Corporate management and directors\u2019 liabilities in\r\ncorporate law, Tbilisi 2006.\r\n[6] K.Kokrashvili. Corporate Law. 2010.\r\n[7] K.Kokrashvili. Article - The Problems of separation of management\r\nauthority of joint stock company according to Georgian legislation, theI\r\nInternational Conference on \u201cCurrent Problems of Law\u201d, Tbilisi, 2010.\r\n[8] Fourth Company Law Directive on annual accounts (Council Directive\r\n78\/660\/EEC as amended by Directive 2006.\r\n[9] German Stock Corporation Act.\r\n[10] Norton Rose group, German corporate laws on joint stock companies,\r\npg.14.http:\/\/www.nortonrose.com\/knowledge\/publications\/pdf\/file25765\r\n.pdf?lang=en-gb.\r\n[11] Richard h. Lester, a road less traveled: investigating the outside directors\r\nof America's corporate boards, p.20\r\nhttp:\/\/repository.tamu.edu\/bitstream\/handle\/1969\/493\/etd-tamu-2003B-\r\n2003051514-Lest-1.pdf; sequence=1.","publisher":"World Academy of Science, Engineering and Technology","index":"Open Science Index 94, 2014"}