Shareholders’ Agreement in the Crossroads of Philosophy of Law

Abstract

This article is devoted to the identification and analysis of the essence and content of shareholders’ agreements as innovative tools in the context of philosophy of law, as well as legal consequences and liability measures arising in case of violation of a shareholders’ agreement. The article deals with the issues of conclusion, execution of a shareholders’ agreement, enforcement, termination of obligations, as well as liability arising from violation of a shareholders’ agreement. Referring to the experience of foreign countries, it was proposed to introduce a number of liability measures under the legislation of the Republic of Armenia: options, “default”, “bad leaver”, “discount”, etc. On the other hand, exploring the features of a shareholders’ agreement in venture joint-stock companies, we have proposed to legislate the mechanism of an investment and/or shareholders’ agreement.