I. А. Emelkina. Experience of Legal Regulation of Management of Other People’s Business in Different Regions of the World

https://doi.org/10.15507/2413-1407.129.032.202404.733-748

УДК / UDC 346.26:332.1

Abstract

Introduction. In the context of economic sanctions from unfriendly countries, our country has taken a course on deoffshorization of the economy ‒ return of private capital from foreign and international financial structures (trust funds) and their transfer into the Russian legal field. The purpose of the study is to carry out a comparative analysis of the legal regulation of foreign business management in foreign countries in search of best practices for implementation in Russian law.

Materials and Methods. Comparative-legal and comparative-historical approaches were used. The analysis of scientific works, legislative and regulatory documents related to the issues of management of other people’s property in other countries was carried out, as well as examples of law enforcement practice were generalized. With the help of methods of comparative jurisprudence, system analysis, legal modeling the differences in approaches to business management through trust funds and trust agreements are revealed, the main principles of legal regulation of the management of other people’s property as an integral institution are determined, possible ways of reforming the Russian law are formulated.

Results. As a result of the analysis, it was concluded that modern foreign legal systems have developed a variety of models for managing private business assets. The trust model is developed in the United Kingdom, the United States and other common law countries. The legal systems of mixed and continental law have attempted to abandon the direct borrowing of trust and have developed various ways to introduce institutions similar to trust into their own legal systems (trust-like structures). At present, prerequisites have emerged in Russian law for the creation of separate legal regulation of relations on private property management, not identical to the institution of trust.

Discussion and Conclusion. In order to create a favorable investment climate in our country it is necessary to develop the institutions of professional management of other people’s business and inheritance business planning, in this regard it seems advisable to include in the Civil Code of the Russian Federation a special section regulating the management of private property. The obtained results have practical significance for representatives of the legal, economic, business community, practicing lawyers, teachers, as well as representatives of the lawmaking initiative.

Keywords: trust and trust-like construction, ownership, unitary organization, management of another’s business, inherited, personal, unit investment, trust funds

Conflict of interest. The author declares no conflict of interest.

Funding. The article was written within the framework of the state assignment of the Russian Academy of National Economy and Public Administration NIR № 5.3-2024-l “Problems of legal regulation of private business assets management in new economic conditions”.

Acknowledgements. The author would like to thank the reviewers for their valuable comments that improved the quality of the text.

For citation: Emelkina I.A. Experience of Legal Regulation of Management of Other People’s Business in Different Regions of the World. Russian Journal of Regional Studies. 2024;32(4):733–748. https://doi.org/10.15507/2413-1407.129.032.202404.733-748
 

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About the author:

Irina A. Emelkina, Dr.Sci (Law), Head of the Chair of Civil Law and Civil Procedure, The Russian Presidential Academy of National Economy and Public Administration (82 Bld. 1Vernadsky Ave., Moscow 1119571, Russian Federation), ORCID: https://orcid.org/0000-0003-2123-2014, SPIN-codе: 5781-4530, emelkina-ia@ranepa.ru

Availability of data and materials. The datasets used and/or analyzed during the current study are available from the author on reasonable request.

The author has read and approved the final manuscript.

Submitted 15.08.2024; revised 30.08.2024; accepted 02.09.2024.