The Development of Corporations and Corporate Law in the World and Russia throughout History

Author Name(s): Marat R. Suleymanov,Guzel A. Valeeva
Author Email: yasulmar@yandex.ru

Abstract

The modern world is characterized by the fact that the turnover and investment activity of business entities increase in order to meet the needs of the growing population of the world. The role of international civil society institutions and international organizations become more and more important in solving global problems so as environmental degradation, terrorism, armed conflicts, and natural disasters. All this leads to the emergence of new subjects, which somehow fall under the rules of international law, in connection with which the subject matter of international law continues to expand.

This paper deals with the origin of the legal entities (corporations) institution, the stages of its development and their specific features, and the specific features of its development in Russia. The following methods were used to perform the above tasks: the analysis, synthesis, comparative method, comparatively-legal method, the dialectic methods and some other methods due to the area of research. The results of the work can be effectively used in the future both in scientific research and in the development of teaching aids and methodological programs in international law.

Introduction

Over the past four decades, a rapid growth in cross-border business has been observed in the globalization conditions in the world. According to experts, approximately 100,000 transnational corporations (TNCs) produce about 25% of world GDP, and the financial turnover of such companies exceeds the budgets of some modern states. The private sector has become a significant economic and social force and is rapidly invading those sectors of the economy that were traditionally governed by the state, so transnational corporations begin to fulfill quasi-state functions.

In spite of the foregoing, the phenomenon of transnational corporations still has some uncertainty and instability. So, up to now, even a single term has not even been elaborated to refer to corporations of this kind. In different sources, one can meet the categories of multinational corporations, cross-border associations, international economic associations and others, but none of them is generally accepted. This shows that both in the doctrine and in the rulemaking there have not been a uniform approach to the consideration of the phenomenon of transnational corporations.

The following methods were used for the study: analysis, synthesis, comparative method, comparative-legal method, dialectic methods and some other methods determined by the field of research. The results of the research can be effectively used in the future both in scientific research and in the development of teaching aids and methodological programs in international law.

Conclusion

Thus, in their development, corporations have come a long way before adopting a transboundary form, although in the Middle Ages there were trade enterprises that opened branches in other countries (for example, the Hanseatic Union mentioned by us had offices in several European cities, including also in Novgorod). However, it was only in the twentieth century that the activities of corporations gained unprecedented scope, which significantly complicated the possibility of regulating their activities.

Acknowledgements

The work is carried out according to the Russian Government Program of Competitive Growth of Kazan Federal University.

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