On Legitimacy Of Human Capital Funding And Overcoming Of Legal Obstacles

With the advent of knowledge economy times, human capital will play a more important part in the economy, but it is not clear in the legislation of Corporation Law whether human capital can be a pattern of contribution by shareholders. Researching human capital funding is of great theoretical and practical significance, while it is of particular reference significance to China’s construction of socialist market economy. From the present situation of the academic research, Domestic and international research on human capital funding are not deep enough and Showing a number of diametrically opposing points of view.The theory of human capital originates from the foreign, human capital can be resolved in legal sense like this:. property right showed by the sum of valuable knowledge, skills, abilities and physical conditions which are condensed in human bodies, human capital belongs to the scope of services. Human capital has features of dependence、intangibility、timeliness、value-variability、subjectivity, etc. These features but only reflect the difference of human capital and physical capital, the complexity of its own, but also determine the obstructions which are reflected by these features as patterns of contribution while physical capital don’t have.The primary goal of value of corporation capital system is property safety, and with the value of protection of investment freedom and capital efficiency, the institution of human capital funding plays a significant role in promoting the realization of these goals of corporation capital system. The modern theory of capital credit is on the eve of decline and be surpassed by the theory of assets credits, human capital funding can promote corporation assets’benefits of safety、development etc. to harmony. Generally speaking, most of common law counties’laws allow the funding of human capital, while which is forbidden or with the exception of unlimited companies in civil law counties. Although it is not clear in the level of national legislation, there are many examples that the institutions of human capital funding have been framed in the level of local legislation.Nowadays, there are two major obstacles of human capital funding, which are the confliction to“Three principles of capital”and not conducive to protect the interests of creditors. Therefore, we could build a series of related laws, such as the assessment institution of human capital, responsibility institution of funding, institutions of shareholders of non-competition, funding publicity institution, share settling institution, social supervision and credit management institutions so as to supply security of institution and possibility of operation for human capital funding.