A. V. GABOV, deputy director of the Institute of Legislation and Comparative Law under the Government of the Russian Federation, doctor of legal sciences, honored lawyer of the Russian Federation
34, Bolshaya Cheremushkinskaya st., Moscow, Russia, 117218
M. V. KRASILNIKOV, attorney-at-law of Mosсow BAR Association
1/7, Kutuzovsky ave., Moscow, Russia, 121248
T. S. BOYKO, senior lawyer of the law offices “Egorov, Puginsky, Afanasiev & Partners”, councel
40/5, Bolshaya Ordynka st., Moscow, Russia, 119017
The classification of business entities into public and non-public in the Russian law provides a reason to seek from the world experience in order to highlight the similarities and further development of regulatory pathways of the above-noted institute. The goal set is achieved by comparing the attributes of a public company in the legislation of some countries. In particular, on the example of the UK and the USA it is established the difference between public and private companies. There is marked a combination of two trends: imperative regulation of public companies, along with the freedom of the creation and operation of private companies. The article describes the approach to the definition of the status of a public company, adopted in Eastern Europe, which is different from that in the UK, studies law in certain countries strongly influenced by English law. Along with the detailed characteristics of the Russian model of public (non-public) companies its difference from the typical Anglo-Saxon model is revealed. The presence (absence) of division into public (private) companies does not evidence the proper and (or) inadequate level of a legal system in this aspect, but simply reflects the model of regulation of the market in a particular country. The authors criticize different interpretation of the term “publicity” by legislators in the case of public (non-public) companies.
Keywords: сomparative corporate law, public and private companies, mandatory regulation, optionality, market regulation models.