Investments: Concept And Legal Characteristics

  • V.V. Anatiichuk
Keywords: investment, object of legal relations, property and non-property objects, property rights.


The article takes into account current areas of public relations in modem conditions, because all strategic policies of the states are focused on investment and their increasing in the economy of the leading states as well as the developing states. With this in mind, the field of investment is becoming more and more widespread. Investments and the relationships that mediate their implementation are becoming increasingly popular objects of study for scholars in the field of private law.

The author emphasizes in the article that the attention of scholars should be paid not only to the questions about the legal forms of investment, but also to the legal essence of the investment, its legal characteristics, classifications and its content. It seems, these aspects of the legal understanding of investment affect the peculiarities of the regulation of investment relations in general.

It has been concluded that existing discussions in science about the nature of investments, for example, economic or legal, do not require the choice of a single approach since investment is a phenomenon that is really by nature characterized by the feature of existing in completely different planes of relations. In each of them, investments are considered from the standpoint of different functional purposes. And this feature of investments does not deny the possibility of considering them both from an economic and legal standpoint.

The analysis of the current legislation testifies to a pluralistic approach to the interpretation of the content of the concept of investment. The author supports the existing critique of the definition of investment through the term «value» and joins the assertion of the need to define investment through the objects of civil law. It should be borne in mind that an inexhaustible list of objects of civil law, including both property and non-property objects, can be investments.

Considering the peculiarities of investment in modern conditions, the author emphasizes the tendency to use as investment not only money but also other objects of legal relations, such as property rights. Regarding the interpretation of the nature of property rights, the paper supports the dominant positions in the doctrine on their complex legal nature, which can be both of property law origin and obligation law origin.

The article emphasizes the tendency to further expand the list of property and non-property objects that can act as investments. In particular, the author does not deny the possibility of using cryptocurrency, business reputation as the means of the investments.