The Standard of Directors' Duties in Georgian Law The codified standard of directors' duties in the current Georgian corpus is established by the Securities Market Law: the triad of good faith, pruden
Board AdvisoryPurpose and Grounds for Creating a Supervisory Board A supervisory (board of directors) body exists in a Georgian entrepreneur entity to exercise control over the activity of its governing organ or pe
Board AdvisoryIn a modern business environment where regulations change rapidly and responsibilities increase, continuous education and training for board members is a necessity, not a luxury. In Georgia, the "Duty
Board AdvisoryThe Common Procedural Framework and the Role of the Charter For convening and holding meetings of the governing (executive) organ of a joint-stock company, Georgian law applies the same rules that it
Corporate SecretaryThe Georgian Framework of Annual Reporting Compliance Annual reporting compliance for Georgian companies is regulated by the Law on Accounting, Reporting and Audit. The law defines the preparation pri
Corporate SecretaryAbout This Service Corporate record keeping is a bundle of duties established by the Law on Entrepreneurial Societies: the publicity of the registry and publication (Article 13), accounting and audit
Corporate SecretaryAbout This Service Registry filings are one of the central institutions of the Law on Entrepreneurial Societies: the registering organ maintains the registry of entrepreneurs and non-commercial legal
Executive ManagementLegal Foundations of Equity Incentive Plans Equity incentive plans — the granting of shares or options to employees, management and related persons — rest on several institutions of the Law of Georgia
Executive ManagementWhat Directors and Officers Insurance Is Directors and Officers insurance — D&O insurance in practice — is a form of liability insurance through which a company protects the members of its governing b
Executive ManagementExecutive Compensation Structuring in Georgian Law Structuring the compensation of a chief executive in Georgia is regulated most concretely in the context of the accountable enterprise. This corpus d
Executive ManagementThe Legal Form of the Executive Service Agreement The service agreement of an executive manager in Georgia is written under the chapter of mandate contracts of the Civil Code. It is precisely this cor
Governance FrameworkThe Charter in the Legal System of EntrepreneursThe charter is the centre of the founding documentation of an entrepreneurial society and is regulated by the Georgian law on entrepreneurial societies.
Governance FrameworkThe Legal Framework of a Governance ManualWhether a governance manual remains a paper document or becomes a working system, its foundation lies in the law on entrepreneurs. Under Article 35, the organ
Governance FrameworkGovernance Policy: For Whom It Is MandatoryFor public issuers, the most concrete Georgian standard for developing a governance policy is given by the Georgian law on the securities market: an accounta
Shareholder RelationsThe Legal Nature of a Shareholder AgreementUnder the norms of the Entrepreneurship Code on shareholder agreements, shareholders, or shareholders together with a third person, are entitled to conclude
Shareholder RelationsThe Procedural Machinery of Shareholder Dispute Resolution The machinery for resolving shareholder conflicts in Georgia is procedural: arbitrability, the collective claim, interim relief and the enfor
Shareholder RelationsThe Core Rights of a Shareholder The Law of Georgia on Entrepreneurs grants a shareholder a broad catalogue of rights within a joint-stock company. Under Article 172, a shareholder has the right to pa
Shareholder RelationsThe Statutory Backbone of Minority Shareholder Protection For issuers of public securities, minority shareholder protection in Georgia is codified in the Georgian Law on the Securities Market. The law
