Legal Property Rights Of The Company Research

"A company shall enjoy the right to the entire property of the legal person formed bythe investments of the shareholders and shall possess civil rights and bear the civilliabilities in accordance with the law. The ownership of the State-owned assets in acompany shall vest in the State," stipulates the Company Law of the People's Republic ofChina, in Article 4, which has caused tremendous disputes in both theory and practice onsuch issues as what is the character of "property rights of company legal person", whethera company possesses the title of the assets within it, etc. This article starts from severalactual cases, on top of which come review of the history of the innovation and reformationof Chinese enterprise system, introduction of all kinds of theories about this issue, andanalysis of relevant concepts. Exordium, which starts from some cases encountered by the author in practice work,expatiates on why this research has been carried through. The significance of the researchof the property rights of company legal person is that, perfecting the system of civil rightsto protect the legitimate rights and interests of civil subjects; perfecting the system ofcompany legal persons to push ahead the innovation and development of MarketEconomy; and directly guiding the judicatory work by accurate definition of the characterof the property rights of company legal person. Chapter One is about the history of the innovation and reformation of Chineseenterprise system, which can be approximately separated into five stages. By reviewing it,we can see the whole process of continuous expanding of the self-determination rights ofmanagement of enterprises, which ultimately turns into the property rights of enterpriseswhen the enterprises turn from appendant of the State to subjects of the market. We canalso see the historical reason why some scholars always dare not admit an enterprisepossesses the title of its assets and always mention the property rights together with themanagement rights. Chapter Two is about ten principal theories on the property rights of legal person.They are: theory of ownership; theory of double-ownership; theory of incompleteownership; theory of management rights; theory of combination of management rights and 1the system of legal person; theory of trust-like relationship; theory of eminent domain;theory of occupancy; theory of co-ownership by shares; and theory of agency. The abovecover the main theories on the property rights of company legal person in China, each ofwhich is analyzed and criticized in detail. Chapter Three focuses on the ownership within the property rights of company legalperson. It emphases the point of view about that, by both illustration of cases and analysisof provisions of law, a company legal person shall possess the ownership of its assets. Inaddition, it analyzes such concepts as "property" and "property rights", and also analyzespowers and functions of the ownership and acquisition of the property of company legalperson. Chapter Four is about other rights included in the property rights of company legalperson, such as creditors' rights, usufructuary rights and security interests, intellectualproperty rights, and stock equities, which are analyzed in detail both in acquisition of therights and in whether the rihgts can be invested as equities. Chapter Five expatiates specially on the point of view of "management rights" by theauthor in respect of the concept, the theoretic foundation, the character, and the defects of"management rights", deeming by thoroughgoing study that, acquired by a company at thetime of its establishment, the management rights are not specific rights but the capacity forcivil conduct of a company. So the author suggests that the concept of "managementrights" should be abolished in theory. Chapter Six analyzes the concept "stock equities", which is related closely to theproper...