Yu. M. Zhornokui, V. H. Zhornokui, I. I. Siadrysta


The author of the article has analyzed certain economic characteristics of a legal entity. The author has researched the issue of ownership as a precondition for the emergence and functioning of a legal entity, the division of property through the construction of a legal entity as an economic way of avoiding the liability of its participants and studying the legal entity as a system of contracts.Pointed factors that determine the economic component of a legal entity: property relations as a precondition for the emergence and functioning  of legal entity; property division through the construction of legal entity as a an economic way of avoiding the responsibility of their participants; a legal entity as a system of contractsIt has been concluded that: 1) the ownership within a legal entity as an economic category fulfills a certain function, which consists in the formation of a significant capital in terms of volume according to the most profitable conditions for all persons involved in this process, in order to maximize its profitable use; 2) based on the economic component, it can be argued that a legal entity is the sole instrument of separation of property, which is carried out in order to limit the risk of its loss in the process of certain activities of an individual; 3) a legal entity from the economic point of view can be understood as a system of contracts, due to the relationship between its founders (participants), the persons who manage it (managers) and the legal entity itself.


enterprise; legal entity; property; dominion; participants; capital; share ownership.


Spаsybo-Fаteevа, Y. V. (1999). Obshchаya khаrаkterystykа prаvа sobstvennosty аktsyonerov y аktsyonernoho obshchestvа [General characteristics of the ownership rights of shareholders and joint stock companies]. Predprynymаtelstvo, khozyaystvo і prаvo Entrepreneurship, economy and law, 2, 15—20 [in Russian].Spasibo-Fateeva, I. (Ed.), Kibenko, A., & Borisov, V. (2007). Korporatyvne upravlinnia [Corporate governance]. Khаrkiv: Prаvo [in Ukrainian].Greshnikov, I. P. (2002). Sub’ekty grazhdanskogo prava: yuridicheskoe lico v prave i zakonodatel’stve [Subjects of civil law: juridical person in law and legislation]. St. Petersburg: The faculty оf law center press [in Russian].Zozуlyak, O. I. (2011). Poniattia mainovoi vidokremlenosti yak oznaky yurydychnoi osoby [The concept of property isolation as signs of the legal entity]. Aktualni problemy vdoskonalennia chynnoho zakonodavstva Ukrainy Actual problems of improving the current legislation of Ukraine, Vol. XXVI [in Ukrainian].Eаsterbrook, F. H., & Fischel, D. R. (1991). The Economic Structure of Corporate Law. Harvard University Press.Karapetov, A. G. (2016). Ekonomicheskij analiz prava [Economic analysis of law]. Moscow: Statut [in Russian].Pozner, R. A., & Tambovceva, V. L. (Eds.). (2004). Ekonomicheskij analiz prava [Economic analysis of law]. St. Peterburg: Ekonomicheskaya shkola [in Russian].Lаnders, J. M. (1975). A Unified Approаch to Pаrent, Subsidiаru, аnd Affiliаte Questions in Bаnkruptcu. Universitu of Chicаgo Lаw Review, 42 (4).Alchiаn, A., & Demsetz, H. (1972). Production, Informаtion Costs, аnd Economic Orgаnizаtion. Americаn Economic Review, 62 (5), 777—795.Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Mаnаgeriаl Behаvior, Agency Costs аnd Ownership Structure. Journаl of Finаnciаl Economics, 3.Spasybo-Fateeva, I. V. (2013). Vzglyad na yuridicheskoe lico kak sistemu kontraktov [Look for a legal entity as a system of contracts]. Problemy tsyvilnoho prava ta protsesu : materialy nauk.-prakt. konf., prysviachenoi pamiati prof. O. A. Pushkina (25 travnia 2013 r.) [Problems of civil law and process: proceedings of the of Sciences.pract. Conf. dedicated to the memory of Professor A. A. Pushkin (25 may 2013)]. Kharkiv : Kharkiv. nats. un-t vnutr. sprav ; Zolota mylia [in Russian].Fаmа, E. F. (1980). Agency Problems аnd the Theory of the Firm. The Journаl of Politicаl Economy, 88 (2), 288—307.Cheung, Steven N. S. (1983). The Contrаctuаl Nаture of the Firm. The Journаl of Lаw & Economic, 26 (1), 1—21.Storchevoj, M. A. (2012). Ekonomicheskaya teoriya firmy: sistematizaciya [The economic theory of the firm: systematization]. Voprosy ekonomiki Issues of economics, 9 [in Russian].Hаnsmаnn, H. (1996). The ownership of enterprise. Cаmbridge, MA: The Belknаp Press of Hаrvаrd University Press.

GOST Style Citations

Спасибо-Фатеева И. В. Общая характеристика права собственности акционеров и акционерного общества / И. В. Спасибо-Фатеева // Предпринимательство, хозяйство и право. — 1999. — № 2. — С. 15—20.

Корпоративне управління : монографія / І. Спасибо-Фатєєва, О. Кібенко, В. Борисова ; за ред. проф. І. Спасибо-Фатєєвої. — Харків : Право, 2007. — 500 с.

Грешников И. П. Субъекты гражданского права: юридическое лицо в праве и законодательстве / И. П. Грешников. — Санкт-Петербург : Юрид. центр Пресс, 2002. — 331 с.

Зозуляк О. І. Поняття майнової відокремленості як ознаки юридичної особи / О. І. Зозуляк // Актуальні проблеми вдосконалення чинного законодавства України : зб. наук. ст. — 2011. — Вип. XXVI. — С. 120—125.

Easterbrook F. H. The Economic Structure of Corporate Law / F. H. Easterbrook, D. R. Fischel. — Harvard University Press, 1991. — 370 р.

Карапетов А. Г. Экономический анализ права / А. Г. Карапетов. — Москва : Статут, 2016. — 528 с.

Познер Р. А. Экономический анализ права : в 2-х т. Т. 2 / Р. А. Познер ; пер. с англ. под ред. В. Л. Тамбовцева. — Санкт-Петербург : Экономическая школа, 2004. — 454 с.

Landers J. M. A Unified Approach to Parent, Subsidiary, and Affiliate Questions in Bankruptcy / J. M. Landers // University of Chicago Law Review. 1975. — Vol. 42. — Is. 4. — Article 10. — Р. 589—652.

Alchian A. Production, Information Costs, and Economic Organization / A. Alchian, H. Demsetz // American Economic Review. — 1972. — Vol. 62. — № 5. — P. 777—795.

Jensen M. C. Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure / M. C. Jensen, W. H. Meckling // Journal of Financial Economics. — 1976. — Vol. 3. — P. 305.

Спасибо-Фатеева И. В. Взгляд на юридическое лицо как систему контрактов / И. В. Спасибо-Фатеева // Проблеми цивільного права та процесу : матеріали наук.-практ. конф., присвяченої пам’яті проф. О. А. Пушкіна (25 травня 2013 р.). Харків : Харків. нац. ун-т внутр. справ ; Золота миля, 2013. — С. 25—31.

Fama E. F. Agency Problems and the Theory of the Firm / E. F. Fama // The Journal of Political Economy. — 1980. — Vol. 88. — № 2. — Р. 288—307.

Cheung S. N. S. The Contractual Nature of the Firm / Steven N. S. Cheung // The Journal of Law & Economics. — 1983. — Vol. 26. — № 1. — Р. 1—21.

Сторчевой М. А. Экономическая теория фирмы: систематизация / М. А. Сторчевой // Вопросы экономики. — 2012. — № 9. — С. 41—66.

Hansmann H. The ownership of enterprise / H. Hansmann. — Cambridge, MA : The Belknap Press of Harvard University Press, 1996. — 372 p.

Copyright (c) 2018 Yu. M. Zhornokui, V. H. Zhornokui, I. I. Siadrysta

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

ISSN (print) 2306-4994, ISSN (on-line) 2310-8770