Recent Developments of the Georgian and Lithuanian “Trust-like” Mechanisms (Terminological Peculiarities)
Recent Developments of the Georgian and Lithuanian “Trust-like” Mechanisms (Terminological Peculiarities)

Summary/Abstract: Globalization directs world population to become a single community. It stipulates the emergence of a competitive atmosphere, which facilitates the shaping of a new legal landscape. The given paper is dedicated to the study of the innovative “trust-like” devices, which were adopted by some Post-Soviet countries as a respond to the contemporary developing policies. The original form of the “trust” appeared at the end of the Middle Ages – in the epoch, when the real estate was the principle form of wealth. In the beginning of the 19th century, the given institution emerged in the American business sphere and stipulated the appearance of “trust-like” mechanisms throughout the world. Hence, the implementation of these devices was contradicted by the traditions of continental law-governed countries. Despite this fact, during the recent decades, the process of globalization has facilitated the popularization of the utilization of the institution of “trust”. Its alternatives appeared even in some Post-Soviet countries in different forms and variations.

• Details
• Contents