Models of impersonal management of commercial corporations: Legal aspects

Abstract

Traditional management models of commercial corporations involve the distribution of authorized capital among specific members of the corporation. This state of affairs makes it possible to establish a system of corporate control, the scope of the rights of each member of the corporation, and also to consider commercial corporations as a whole as an association of capital and (or) an association of persons. This article explores models of corporate governance in which a member of the corporation is not formally known or is completely absent. This study is not limited to the legal assessment of beneficial ownership of a corporation. A legal assessment is given of possible models of corporate governance that do not allow, both legally and actually, to truly establish the owner of the business. The bases for classification of models of impersonal management of a corporation are highlighted. Modern domestic corporate and judicial practice on the issue of using the model of “impersonal” management of a corporation is given. The possibility of identifying the deliberate use of the considered management model in the formation of the supreme body of the corporation, as well as the abuse of corporate rights in relation to the rights and legitimate interests of other members of the corporation and third parties (for example, creditors or government bodies) is being studied. The variability of the model of impersonal management of commercial corporations is revealed; the legal consequences of the application of this management model are determined; Ways of solving the issue of bringing liable persons to responsibility are proposed. Mechanisms for detecting the impersonal management of a corporation are proposed, including through the use of digital technologies. Criteria that determine the unfair use of this management model are analyzed. In the study, new approaches have been formed to identify the model of impersonal management of corporations by the courts and prevent their use.