Articles by W.E. Butler
Out in Cold In 1987, when the former Soviet Union introduced joint enterprises with foreign investment, the corporate vehicle the joint enterprise most closely resembled came to be called in the Russian Civil Code the ""limited responsibility society,"" widely known by its acronym ""OOO."" From March 1, 1998, the OOO took its rightful place beside the joint-stock society as an investment vehicle with features fully fleshed-out by a federal law, the Federal Law on Limited Responsibility Societies. Though the OOO is widely used among Russian entrepreneurs, not least because of its relative informality compared with the joint-stock society, most foreign investors have remained leery. This is especially true for those who recall the joint enterprise days. Such apprehensions are unlikely to be alleviated by the mature version.