Trade and Corporate Agreements: Problems of Correlation and Business Application Trends

Abstract

The paper examines specific features of contractual mechanisms considering trade and corporate agreements. The author compares trade and corporate agreements and reveals the nature of a corporate agreement; determines the conditions of its conclusion and validity; outlines some problems associated with its conclusion and implementation. It is concluded that a corporate agreement has significant specific feature distinguishing it from trade agreements. The current trend in business practice towards strengthening the role of a corporate agreement as a regulator is analyzed. Emphasis is placed on a number of issues that require attention when developing this position: requirements for the form, subject and conditions of a corporate agreement, the relationship between corporate and quasi-corporate agreements, disclosure of information about a corporate agreement, ensuring proper execution of the agreement, application of rules on business agreements. Within the framework of the position classifying a corporate agreement as an entrepreneurial agreement, the author express a point of view that a corporate agreement is a business contract regardless of its parties.