Problems of equal access to corporate information for minority shareholders and members of the company's board of directors

The issue of access to corporate information has long remained overlooked, giving way to issues that seemed more "practical", such as profit distribution, dividend payments, managing a business or selling it. However, the management of the company and the exercise of "core" corporate rights are accompanied by high risks of making incorrect decisions without accurate and comprehensive information about the company's activities. At the same time, the legislation restricts the scope of rights of minority shareholders to receive information. Even members of the Board of Directors who are not shareholders enjoy broader information rights than minority shareholders.

In this article, we will consider the following questions:
• What qualifies as corporate information?
• How has the regulation of the right to information developed?
• How does the size of a shareholding affect access to information?
• What is a business purpose?
• Under what circumstances may a shareholder be denied access to information?
• What is the significance of the right to information for minority shareholders?
• What is the significance of the right to information for members of the board of directors?
• How is the right to information exercised when a minority shareholder
holds a position on the board of directors?