Privatization and Its Varied Forms due to the Differences between Legal Cultures
Privatization and Its Varied Forms due to the Differences between Legal Cultures

Summary/Abstract: The author is primarily interested in the differentiation of legal forms of regulating the rights traditionally related to ownership; the differentiation that is an effect of divergent socio-economic evolution of the Western countries and the countries of the so-called 'socialist block' whose legal order exhibited typical Marxist traits such as social ownership and the blurring of conceptual distinction between administrative, management and ownership rights. The legal solution that gave rise to most international controversies were the nationalization measures with regard to alien property, implemented first in USSR and then adopted in other socialist countries. The author also analyzes the divergences between legal solutions adopted in the process of nationalization by legislatures of the countries of the former 'socialist block'. These differences have resulted in the necessity to adopt different legal instruments in the process of re-privatization (and in some cases of denationalization) that became at once possible and necessary after the fall of the Soviet Union. The author also addresses the problems related to the functioning of reprivatisation mechanism, which are generated for example by the pricing of property to be privatized. The discussion of these issues is complemented by an outline of the historical development of the institution of private property in the People's Republic of China, including the newest changes in the normative system such as the so-called Property Right Law of 2007

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