Publications

Patrick Kasparian (Ph.D.) is a regular contributor to leading legal books and journals. His contributions focus on the Blockchain, corporate control, strategic decisions, corporate governance and shareholder rights.

Janvier 2026

Affaire Bolloré/Vivendi : le contrôle exclusif de fait découle nécessairement de la détention ou de l’exercice des droits de vote dans les assemblées générales Les Petites Affiches (Lextenso)

Par deux arrêts rendus le 28 novembre 2025, la Cour de cassation condamne la méthode dite « du faisceau d’indices » adoptée par la cour d’appel de Paris pour la qualification du contrôle exclusif de fait au sens de l’article L. 233-3, I, 3°, du Code de commerce. Elle décide au contraire qu’une personne physique ou morale ne détermine en fait les décisions dans les assemblées générales d’une société que par les seuls droits de vote dont elle dispose, lorsque leur nombre lui permet d’imposer sa volonté lors des assemblées générales. Ainsi, elle affirme que la définition repose exclusivement sur le critère de majorité politique, dont la pertinence mérite d’être questionnée.

Décembre 2025

Contrôle exclusif, contrôle conjoint in Dictionnaire Joly sociétés (Lextenso)

“Control, taken in the sense of domination – which will be the subject of our study – invites us to examine the power exercised by a person – whether natural or legal – over the will of the company. The exercise of power offers the controller the possibility of defining the company's strategy in such a way that it corresponds to his own aspirations.”

https://www.labase-lextenso.fr/encyclopedie/controle-exclusif-controle-conjoint-S_EC175

 

Novembre 2025

Le contrôle de la SAS Revue Droit des sociétés (LexisNexis)

La SAS, gouvernée par le principe de liberté statutaire, autorise la mise en place des montages de contrôle les plus divers grâce aux aménagements statutaires et extra-statutaires autorisés. Cette souplesse de la SAS met à l’épreuve les définitions du contrôle consacrées en droit des affaires. Tant le critère de détention majoritaire que celui d’influence dominante ou déterminante peuvent être délicats à mettre en œuvre pour la qualification du contrôle de la SAS.

August 2024

Qui peut contrôler une société ? Revue Droit des sociétés (LexisNexis)

"The question 'How can a company be controlled?' has been the subject of much writing, informed by a wealth of frequent case law. On the other hand, the issues relating to the determination of the controlling party, which can be summed up by the question 'Who can control a company?', attract much less interest. Perhaps this is linked to the lack of originality, in this respect, of the arrangements establishing control over a company."

January 2024

L’égalité de vote présume le contrôle conjoint Bulletin Joly Société (Lextenso)

"The case law relating to joint control continues to evolve, enabling the emergence, through decisions, of consistent solutions which concern both the scope of application of this concept and the elements of its legal definition."

August 2023

The articulation of the fiat contract and the smart contract: a source of insecurity? in Sciences et Droit, éd. Mare et Martin

The idea of the article was to demonstrate that the creation of a smart contract registering a contractual clause in a blockchain can raise a number of issues regarding the interpretation of the parties' intentions.

March 2022

L’accord instaurant un contrôle conjoint Bull. Joly sociétés (Lextenso)

“A rewriting of Article L. 233-3, III, is necessary so that the definition of joint control finally corresponds to its essence: it is a power exercised at the level of strategic decisions, regardless of the body that defines them, and not at the level of any decision falling within the competence of the general meeting of the controlled company!”

December 2019

Les limites d’une conception monocéphale du groupe de sociétés Bulletin Joly sociétés (Lextenso)

“One of the essential objectives assigned to the notion of control is to lift the veil on the more or less complex legal arrangements which sometimes aim to conceal the identity of those holding power within a company or group of companies.”

September 2019

Contrôle conjoint et amendement Charasse Bulletin Joly sociétés (Lextenso)

“Judges find themselves obliged to formally refer to inadequate criteria (concerted action and the actual determination of decisions in a general meeting), while retaining those which could result from a more appropriate definition…”

Juin 2019

L’extension du délit de négationnisme ouvrage collectif co-dirigé avec Pr. T. Hochmann, Institut Universitaire Varenne – LGDJ, 2019

“Generally speaking, the difference between judicial truth and scientific truth lies in the “closed” nature of the former.”

March 2019

Blockchain et franchissement de seuil d’actionnariat in Les blockchains, le droit des sociétés et le gouvernement d’entreprise (sous la dir. P. Barban et V. Magnier), Dalloz (Thèmes & Commentaires)

“This question arises more generally from a reflection on the role of blockchain as a “regulatory tool”: thanks to the implementation of a specific IT protocol, we would force de facto And ex ante actors to respect certain obligations”

February 2018

Economie sociale et solidaire et coopératives agricoles in Actes de la Conférence d’actualité sur les coopératives agricoles, 14 octobre 2016, Revue de droit rural (LexisNexis)

“But the legislator goes further by freeing itself from the legal form adopted by the company: the law intended to encompass all economic actors in the sector. Thus, any company, including commercial companies, that meets the definition can now be labeled ESS.”

November 2017

Le passage d’un contrôle exclusif à un contrôle conjoint ne constitue pas nécessairement une opération de concentration Bulletin Joly sociétés (Lextenso)

“In principle, the appearance of a new economic player on the market constitutes a concentration operation, regardless of the structure adopted by the interested parties. A new entity exists alongside existing ones and therefore disrupts the market configuration; however, when this is the work of pre-existing companies, there is indeed a concentration. However, we must avoid giving in to the temptation of such simplistic reasoning.”

October 2017

À quel moment un dirigeant doit-il être informé des motifs de sa révocation ? Bulletin Joly sociétés (Lextenso)

“Must a manager whose dismissal is anticipated be notified of the alleged grievances? Such a requirement would provide better protection to the person concerned. Naturally, he or she would have the necessary time to prepare a defense that could influence the decision to dismiss him or her. However, does the requirement for prior information of the manager not stem from the guarantee of the rights of defense?”

May 2017

À la recherche du critère du contrôle conjoint (à propos d’une entente sur le marché des tubes cathodiques) Bulletin Joly Sociétés (Lextenso)

“Thus, the supervisory authorities are required to carry out the qualification operation in two stages: first the qualification of joint control, then the qualification of full exercise. Between the two notions, there is not a simple difference of degree; there is a real difference of nature. Joint control is characterized at the level of the strategy adopted by the joint venture as an economic actor on the market.”

May 2016

Consultation du comité d’entreprise sur les orientations stratégiques : des premières précisions très attendues Bulletin Joly sociétés (Lextenso)

“The strategy of the subsidiary is not only influenced, in its content, by its membership in the group, but is also, as for its adoption, subject to the approval of the company at the head of the group. Indeed, the two essential criteria for the definition of the group are the existence of a link of control and a decision-making unit.”

May 2016

Tergiversations sur la définition du contrôle conjoint Bulletin Joly sociétés (Lextenso)

“Case law and decision-making practice seem to be bogged down in imprecise reasoning which, on the one hand, accepts the adoption of a modern definition of joint control and, on the other, insists on linking it to the literal criterion derived from a poorly drafted text. However, is it the role of judges to “break” the text of Article L. 233-3?”

June 2015

L’interdiction de la suppression du droit de vote de l’associé : nouvel épisode Bulletin Joly sociétés (Lextenso)

“In a decision that reiterates a well-established praetorian rule, the Court of Cassation once again affirms the sacred nature of the shareholder’s vote. It refuses to give effect to a statutory exclusion clause that has the effect of removing a shareholder’s right to vote.”

January 2015

Prise de décision stratégique « émergente » et risque d’omnipotence du directeur général Bulletin Joly sociétés (Lextenso)

“The strategic decisions of the SA are generally adopted within the framework of the annual guidelines decided by the board of directors. However, certain “emerging” strategic decisions cannot be anticipated and are necessarily adopted during the financial year. For these decisions, positive law does not allow for the precise determination of the competent corporate body. There is therefore a real risk of omnipotence on the part of the CEO.”

January 2015

Quand la création d’une holding suffit pour le contournement de la réglementation sur les franchissements de seuil… Bulletin Joly Bourse (Lextenso)

“Currently, there remains doubt as to the application of certain texts to the control in its exclusive and joint form, as to the definition of the person of the controller and as to the taking into account of complex chains of control. In principle, the ratio legis of the reference text would make it possible to resolve these problems”

December 2014

Le contrôle conjoint. Contribution à l’étude du pouvoir dans les sociétés Editions Joly-Lextenso, Collection Pratique des affaires

“Business law has struggled with defining the concept of control: a person can be dominated by a multitude of means. More specifically, corporate law techniques and the imagination of practitioners make possible a wide variety of control schemes. A company can be dominated when its managers are loyal to the controller, when important decisions can be dictated by the controller, or when its economic viability depends on the controller.”

hours of operation

Monday-Friday – 9:30 – 19:00

Contact

19 rue de la paix, 75002 Paris

+33 1 53 23 09 90

contact@patrick-kasparian.com

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