Specific characteristics of corporate rights under Ukrainian legislation

Abstract

The article is devoted to the study of the peculiarities of the exercise of corporate rights under the civil law of Ukraine in order to identify their specific characteristics. Through a documentary methodology, close to legal hermeneutics, it was concluded that the participant of a legal entity (company) may have not only corporate rights but also other rights over this legal entity (company). Therefore, it is not enough to say that the rights of a person whose participation is defined in the authorized capital are corporate. It is important that the content of these rights is due to the ownership share (share, number of shares) in the authorized capital of the legal person (company). It was also found that intangible corporate rights must be distinguished from the personal intangible rights of the individual. The concepts of “non-economic rights” and “non-economic personal rights” are not identical. In relation to a person, intangible rights should be divided into two types: non-economic rights that are not closely related to a person (e.g., non-economic corporate rights); intangible rights that are closely related to a person and are inseparable from a person (personal intangible rights).

Ways of Transferring Enterprise or Corporate Rights to Management by Public Officers in Conditions of Conflicts of Interest: Administrative and Legal Aspect

“…The National Agency for the Prevention of Corruption emphasizes that officials holding a responsible and particularly responsible position, as well as subjects of the declaration holding positions associated with a high and increased level of corruption risks also indicate in the declaration corporate rights, which are objects of the property right of a third party if the subject of the declaration or a member of their family receives or has the right to receive income from such an object or can directly or indirectly (through other natural or legal persons) act in relation to such an object of action, identical essence to the exercise of the right to dispose of it [14]. Such information shall not be indicated in the declaration if the relevant objects are owned by a legal entity specified in Clause 5-1, Part 1, Article 46 of the Law of Ukraine On Prevention of Corruption, and their main purpose is to be used in the economic activities of such a legal entity.…”

“…In section 8 of the Corporate Rights declaration, the subject of the declaration must indicate their family member's share in the statutory (shared capital) of the company, the monetary and percentage expression of which is specified in the founding document of the company and the Unified State Register of Legal Entities, Individual Entrepreneurs and Public Formations, regardless of the actual government. In addition, in the case of noncontribution to the authorized capital or partial contribution of it, the subject of the declaration or a member of their family has a financial obligation, and, in case of exceeding the declaration threshold, it must be declared in Section 13 Financial Obligations of the declaration [14].…”