News

•  
  23.11.2011

  Should Company By-laws be “Efficient”?

  The system of a company’s by-laws and other internal regulations should secure the achievement of the company’s goals in management, labor, and production. Efficiency of by-laws depends on various factors. Moreover, one can find many reasons that impede the creation of efficient by-laws. All these issues are covered by Elena Kornushenko, senior associate of Businessconsult, in her article published by the Jurist Magazine, Issue 11, 2011.

   

  New types of business activity, ownership diversity, variety of company legal structures, and new technologies stimulate the creation of the company’s by-laws and other internal regulations. Many areas, such as corporate compliance and grading, which are not adequately regulated, are primary ones when it comes to creating by-laws.

   

  Market relations cause transformation of by-laws role and strengthen the priority for creating the company’s by-laws and other internal regulations. Competition forces companies penetrate into new markets, diversify their activities, and look for more efficient mechanisms of business plan implementation. Only the combination of mobility and ability to promptly react on changes, the existence of a management system that allows to control and timely adjust processes taking place in the company can help the company to survive and oust competitors.  These are the tasks given by modern managers to legal departments, when it comes to creating the system of the company’s by-laws and other internal regulations. The time has come to appraise the company’s by-laws with regard to their efficiency.

   

  What is an effective rule of law, what are the conditions for efficiency of rules of the company’s by-laws and other internal regulations - these issues, among others, are covered by Elena Kornushenko, senior associate of Businessconsult, in her article under the headline “Efficient Drafting of By-laws” published by The Jurist Magazine, Issue 11, 2011.

   

  View full news list »