A Comparative Study of Companies Information Disclosure in Iran and the United States

Document Type : Research Article

Authors

Department of Private law, Faculty of Law & Political Sciences, Kharazmi University, Tehran, Iran

Abstract

The companies' information disclosure mechanism in many countries, on the one hand, has a particular scope in terms of the subject, which is determined by the laws and regulations, and on the other hand, it follows several principles, the most important of which are the principle of timely, correctness and comprehensibility of information. These principles are also accepted in Iran's legal system, but their implementation in practice is faced with ambiguities and problems such as confidentiality of information, loss to the company, and conflicts of interests of managers. For this reason, considering the importance of the subject and the existing challenges, the current article has investigated it in the legal systems of Iran and the United States of America with a descriptive-analytical method based on library studies. The findings of this article indicate that the legal systems of the two countries have many similar rules in the field of information disclosure; However, in Iran, a large part of the challenges in the field of information disclosure of companies is due to the ambiguity or inadequacy of the legal guarantee; This is although, in the USA legal system, the performance guarantee system does not have such defects.

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References

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Private Law
Volume 20, Issue 1
Spring & Summer
April 2023
Pages 73-87

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