Study In The Conflict And Coordination Between Information Disclosure System Of Limited Company And Business Secret Protection System

Information disclosure system and the business secret protection system not only are twokey problems in modern market economy, but also a dilemma. They have contradiction andthe conflict not only in theory but also in practice. In theory, as the key system of thesecurities market, the male principles of the information disclosure are “open、just、fair”, theirpurpose are to protect the benefit of intensive general investor, at the same time maintain ahealthy well-organized and fair securities market. However, business secret protection meansto protect companies’ economic benefit and competitive advantage by protect the information.One means to protect investor’s benefit, the other means to protect companies’ benefit,contradiction and conflict are inevitable. In practice, The securities supervision andadministration institution would ask companies to do well in information disclosure to protectinvestors’ benefit, but excessive disclosure may leak companies’ business secret; On the otherhand, companies are not willing to publish information in order to protect or enlarge theircompetitive advantage, and to pursue the maximal profit. However, securities market is ainformation market, overemphasize the protection of business secret is against the informationdisclosure, and will damage investors’ benefit. Therefore, study the conflict of the two andproposes the solution countermeasure not only have Theoretical significance, but also haverealistic significance. This article is from the basic theories of the two systems,Comprehensive analyze the causes and representations of the confliction between informationdisclosure system and the business secret protection system. Put forward the possibility tocoordinate the confliction. Finally, proposes the countermeasure of the conflict.This article is divided into five parts, about30,000characters.The first part is a introduction. It introduces the background, present situation and thegoal of the research.The second part introduces the fundamental of the two systems. Mainly elaborate themeaning, necessity and significance of the information disclosure system, along with themeaning and significance of the business secret protection system. Moreover, simple lists the legislation of the two systems.The third part comprehensive analyze the contradiction and the conflict between the twosystems. Put a detailed analysis into the source of conflict by analyze “the right to know” andthe economic benefit conflict. Then, elaborate the specific forms of the conflict by analyze thelegislation value, protection object, legal principle and the content. Finally, use some cases toreveal the present situation and problems.The forth part comprehensive analyze the coordination theory of the conflict betweenthe two systems. Although the contradiction and the conflict between the two is increasinglyprominent, it has the possibility to coordinate. In this pare, The author analyze thecoordination’s necessity of the conflict by the realistic urgency. Then, analyze thecoordination’s possibilities of the conflict by the uncertainty of the information disclosure’sstandards, and the defect of the business secret rights.The fifth part proposes the countermeasure of the conflict. This part includes three parts.The first is to ensure the boundary line of the information by dividing information from timeand content. The second is legislative countermeasure, mainly comprises formulate businesssecret rights, making perfect legislation of the information disclosure, establishing voluntaryinformation disclosure system and making perfect in securities supervision system. The thirdis judicial countermeasure. Mainly comprises bring in civil action mechanism, and strengthenthe law enforcement.