Current trends in the modernization of corporate law in Poland

Abstract

The article analyzes the latest trends in corporate law reform in Poland. The main emphasis is placed on the system of economic companies and the variety of subclasses of classical types of companies that should satisfy the needs of the modern economy (simple joint-stock company, limited joint-stock company).The author justifies that in the conditions of the initiated process of Ukraine’s integration into the EU, it is relevant to take into account the experience of other European countries that have gained membership in the European Union. Taking into account the experience of Poland seems especially appropriate, since the same challenges faced the Polish legislator among the EU member states: reformatting the economy in accordance with new market conditions, privatization, abolition of socialist legislation, etc.It is argued that an important feature of Polish corporate legislation is the division into partnerships and corporations. This line of demarcation follows the pattern known in most modern jurisdictions and has been developed by legal doctrine with the emergence of the theory of legal personality.Special attention is paid to limited joint-stock partnership and simple joint-stock company. It is emphasized that the double taxation of limited joint-stock partnership ‘s profit eliminated the main advantage of the latter. That is why, today, limited joint-stock partnerships are not popular in the process of conducting an existing or registering a new business. And a simple JSC is a potentially effective legal form of business, first of all, for technology companies.The author concludes that several attempts have been made in the corporate law of Poland to offer the market an effective tool for attracting equity capital (limited partnership on shares, simple joint-stock company). However, none of them has yet lived up to expectations. However, such attempts are a confirmation that the system of business associations is a dynamic phenomenon and periodically needs modernization in accordance with the socio-economic needs of a specific state.It is concluded that the polish experience of limited joint-stock partnership and simple joint stock company should be taken into account during further changes in Ukrainian corporation law, especially within the framework of the recodification of the Civil Code of Ukraine.