Commenced in January 2007
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Problems of the Management of Legal Entities of Private Law in Georgia

Authors: Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze

Abstract:

Importance of management of legal entities under private law of which especially corporate management, as well as looking for ways of its improvement and perfection has become especially relevant in the twenty-first century, which was greatly contributed to by the global economic crisis. Some states have adopted Corporate Governance Codes; the European Union has set to work on a series of directives the main purpose of which is an improvement of corporate governance, provision of greater transparency and implementation of an effective control mechanism. This process is not yet completed, and various problematic issues associated with management of legal persons are still being debated among practitioner experts and scholars. Georgia is not an exception in this regard. The article discusses the legislative gaps, and in some cases, discrepancies having arisen in legal relationships under private law and having caused many practical problems. This especially applies to the management of capital companies.

Keywords: Business entities, corporate management, public capital management, collective norms, existing problems, legal discrepancies.

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1339331

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References:


[1] Communication from the Commission to the European Parliament, the Council, the Economic and Social Committee and the Committee of the Regions Towards a Single Market Act – for a highly competitive social market economy – COM (2010) 608final/2, pg. 27;
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[3] CACG Guidelines – Principles of Corporate Governance in the Commonwealth towards global competitiveness and economic accountability; November 1999; pg.1;
[4] The Law of Georgia "On Entrepreneurs".
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[9] German Stock Corporation Act.
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