Comparative analysis of the corporate agreement regulation: practice of the European Union states
Bibliographic description of the article for the citation:
Валерия Устюгова. Comparative analysis of the corporate agreement regulation: practice of the European Union states//Science online: International Scientific e-zine - 2020. - №4. - https://nauka-online.com/en/publications/yurisprudentsiya/2020/4/komparativnyj-analiz-regulirovaniya-korporativnogo-dogovora-opyt-stran-evropejskogo-soyuza/
Annotation: Shareholders` agreement, being a relatively new instrument of corporate regulation, has acquired a wide acknowledgement among members of European Union since the middle of 20th century. The flexible nature of shareholders` agreement, in comparison to constitutional documents of the company, enables to introduce corrections to the business doing and being of the company not demanding any notice to or approval from the authoritative bodies and without the need to bear additional costs, what is unavoidable in case of legislative requirement of articles` of association changes notarization. Besides, confidential nature of this agreement allows the parties not to disclose commercial plans and the fact of coordinated actions present in a company. The convenience of a shareholder`s agreement use lies also in the possibility to decide on the future actions of the shareholders, taking into account various mechanisms to solve deadlocks and establishing a type and amount of liability for a party, which would breach established by shareholder`s agreement contractual obligations. In this article the author analyses the form and subject matter requirements to a shareholder`s agreement, sources of its regulation, as well as the relation between the articles of association and shareholder`s agreement itself, through the regulation experience of Italy, Spain, the Netherlands, Germany, Switzerland, Poland, Belgium and France, in order to familiarize the audience with the best practices of this corporate instrument usage and to effectively incorporate foreign experience to Ukrainian reality.