¥Joint-Stock Companies
–June 19, 1990, USSR Council of Ministers
Statute on Joint-Stock Companies
and Companies with Limited Liability
¥Allowed existing state enterprises to
reorganize into open or closed joint-stock companies under certain conditions
¥Open joint-stock companies - stock could be held by workers,
managers, various levels of
government, other state enterprises, & private individuals
¥Closed joint-stock - only workers,
managers, and state could hold stock
¥Both workers and state organ authorized
for reorganization purpose would have to reach joint decision on reorganization
¥Example, Menatep Interbank Association,
poorly understood by stockholders
¥Law on Inventions in the USSR (May 1991)
–Strengthened economic, legal, and
organizational principles for protection of inventions under various forms of ownership with a market economy
–Incentives for innovations in medicine
and ecology were increased
–Rights and benefits for firms adopting
innovations were expanded
–No Patent Court or state patents
department