사업신탁의 도입을 위한 입법론적 검토

The trust system essentially involves the function of property management and insolvency protection. Besides these two functions, the purpose of trust can be completed through its function of conversion and flexibility in design. It has also the function of substitutability for the corporation. This thesis analyzes the business trust that can perform functions similiary to the corporation. In the United States the business trust, which has been produced during the process of overcoming the limitation of an enterprise, is considered as an institution for business management. Therefore, the enterprise has added a new form of enterprise to its previously traditional corporation and partnership. This new form of enterprise is the business trust. The U.S has taken the initiative to rule the business trust in accordance to the case law. As this has revealed its limitation, the U.S established the Business Trust Act. This Act permutates the characteristics of an organization law. In the case of Japan, the Trust Act 2006 introduced the business trust. The development of the business trust in Japan has shown differences from the production of the business trust in the U.S. Japan’s business trust is a result of the conversion of the sale of assets, which is regulated by the Commercial Code, into a trust structured format. In short, Japan adjusted the original contract in order to make the trust act plausible. So far, in Korea there have been only few studies on business trust. This thesis will first examine the development of the business trust in U.S and Japan. The conclusion of this paper states legislative tasks that need to be followed to successfully introduce this business trust to Korea’s Trust Act.