A Comparative Study Of The Promoters Of Joint Stock System And The Legal Regulation,

This article discusses several problems related to promoter system of company by shares (company) on the reform of company law of China. The incorporation of company is the process that the promoters establish an individual legal person according to related regulations. The behavior of promoter directly determines the right and liability related to the company in the future, affects the safety of transaction and the stability of social and economic orders. This article consists of six parts. In PartⅠ, it addresses some important and prominent problems about company law of China. Such problems are just the key points of the article. Then, Part Ⅱsummarizes the concept of promoter, behavior of promote and legal status of promoter. Part Ⅲ touches upon the statutory capital system and the capital credit principle. In Particular, this part researches into the transformation from the statutory capital system to the authorized capital system, and from the capital credit principle to the asset credit principle. The primary purpose of discussing the promoter system is to confirm the right and liability of promoter. After analyzing and discussing the importance of company capital system, Part Ⅳ and Part Ⅴ research into the right and liability of the promoter. In Part Ⅵ, it is concluded with supervisory system of founding meeting and information disclosure, these analyses aim to give valuable advises to the reform of the company law.