In recent years there has been renewal of interest in “possession” of the agricultural corporation in Japan. The purpose of this paper is to show how “possession” is to be understood in the theories of farm management in Japan and to consider the significance of “possession” for the agricultural corporation.
The major results are as follows:
(1) In the field of the theories of farm management, preceding researches on “possession” often fail to grasp the ownership from the standpoint of legal rights. “Possession” is erroneously characterized by the ownerships of means of production.
(2) The concepts of “possession”, as mentioned above, disturbed us from a deeper understanding about the agricultural corporation as a legal person.
(3) Management system of the agricultural corporation is composed of stockholders, a general meeting of stockholders, a legal person and a system excuting the legal person's duty. In Japan, it is allowed legally that a system executing the person's duty could be consisted of the duty of a director all alone. The main reason is that all of decision-making are made at a general meeting of stockholders. The director cannot adapt by himself to the change in the business environments immediately, which is pointed out in recent studies, is partly derived from legal restriction. Accordingly, it is necessary to grasp “possession” as legal rights.
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