سید عباس احمدیان

One of the distinct characteristics of a joint-stock company is having an independent juridical personality, and the existence of eligibility, right to file a lawsuit, residence, citizenship, and independent rights and obligations are among the effects of this juridical personality, which according to some jurists, the existence of such effects is only for human beings. and they cannot be considered as a credit entity and the assumption of legal personality does not absolve the responsibility of partners and shareholders from the point of view of jurisprudence, but another opinion is that the credit of having an independent legal personality for a joint stock company does not exclude the nature of jurisprudential companies, but some jurists, instead of accepting or rejecting the absolute juridical personality of a joint-stock company, consider it a juridical personality with limited liability. The present article, which uses a descriptive-analytical method, while expressing and criticizing views about the juridical personality of a joint-stock company and its effects from the perspective of the parties' jurisprudence and law, believes that with a detailed analysis of "Dhamma" (responsibility) it is possible to establish the existence of a juridical personality in Islamic jurisprudence proved and accepted that just as pact is a description of human beings, it does not prevent this description to be applied to non-humans (stock company) as well, and accordingly, it considered the works of such a person to be in accordance with jurisprudence standards.

The most significant jurisprudential challenge regarding joint-stock companies lies in identifying their nature and position among Islamic jurisprudential company models, as well as determining whether a joint-stock company is a contractual agreement or merely an organization formed for conducting business with the assets of a group of shareholders. Among jurists and legal experts, there is a lack of consensus on this issue. Even if the theory of joint-stock companies being a contractual agreement is favored, difficulties arise in aligning this company type with jurisprudential company models. Key obstacles to accepting joint-stock companies as contracts include the existence of assets distinct from the shareholders’ personal assets, the independent legal personality of the company, the mandatory regulations governing company management, and shareholders' adherence to majority decisions.According to contemporary jurists, among Islamic contracts and company models, ‘inan partnerships and mudarabah contracts share the closest structural similarities with joint-stock companies. However, the emphasis of commercial law on selecting board members exclusively from among the shareholders presents a significant challenge to aligning joint-stock companies with mudarabah and ‘inan contracts.This descriptive-analytical study concludes that while aligning joint-stock companies with the ‘inan partnership is feasible, considering them as a new and innovative partnership contract, based on the principle of validity and freedom to enter into legitimate contracts, is more justifiable than other approaches.