Discussion On Civil Responsibility Of Initiators Of China 's Joint - Stock Company Limited

The sponsors’ civil liabilities of the company limited by shares is not much in thecompany law of our country, with many vague provisions and blanks.And the wordof the sponsor does not exist in the limited liability company.Although in recentyears, in the company law of our country the system of civil liability of the sponsorhas been improved, such as capital adequacy responsibility aspects.But the companylaw of our country is neither as rigorous as the legislation of the civil law system noras flexible as the legislation of the common law system. But in view of the system ofthe sponsors,it occupies an important position and plays an important role in the civilliability system with legislation. The legislators should give attention, and we hopethat the company law can involve this part in the future. This paper focuses on theanalysis about the civil liabilities of the sponsors system. In order to analyze thissystem better， the paper also relates to some of the relevant systems of thesponsors.This paper is divided into three parts.The first part is main the definition of sponsors, legal status (such as varietyrelationships), eligibility (including negative and positive qualifications), rights andobligations of sponsors, starting from the most basic aspects of the promoters. wehave a basic understanding about the system of the sponsors, because thesecharacteristics of the sponsors make them bear a series of civil liabilities. And it canpave the way for the civil liabilities of sponsors of the following discussions.In second part I analyze in specific and detail about the civil liabilities of thesponsors. And this part is the main part of this article, including the civil liabilities ofthe sponsors during the period of the failure and establishment of the company. Ianalyze these two aspects respectively, and analyze the nature and the forms of civilliabilities of the sponsors. This can be seen in our country the shortcomings andloopholes in our legislation。This can provide the basis for the improvement ofresponsibilities of the sponsors in the third part.On the current legislation systems of civil liability about the sponsors and therelevant systems, in the third part I point the problems of China’s legislation in thisregard and put forward to use the legislative experiences from the common lawsystem and the civil law system to improve our country’s system of sponsors’ civilliabilities. It can make our country in civil liabilities of the sponsors, even in thewhole legislative system about sponsors gradually perfect and operational, and makethe company law of our country adapt to our life.