[1] Comprehensive Analysis of the Scope and Judicial Protection of Shareholders' Right to Information in Limited Liability Companies

## Statutory scope and exercise conditions of shareholder's right to know

Under Article 33 of the Company Law, the information rights of shareholders in a limited liability company encompass the articles of association, minutes of shareholders' meetings, resolutions of the board of directors, resolutions of the supervisory board, financial and accounting reports, and accounting books. Among these, the inspection of accounting books requires a shareholder to submit a written request stating the purpose, and the company may refuse within 15 days on the grounds of "improper purpose," but bears the burden of proof. In practice, shareholders are often limited by their inability to obtain original vouchers, and judicial practice is divided, with some courts supporting the inclusion of bookkeeping vouchers within the scope of inspection to ensure the substantive realization of information rights.

Burden of proof and remedies in judicial protection

When a company refuses inspection without justifiable reasons, shareholders may file a lawsuit for the right to information. The court's review focuses on whether the shareholder's status persists and whether the purpose of the request is legitimate (e.g., whether there is a competitive relationship). If the company cannot prove that the shareholder has a "substantial competitive business" or poses a "risk of disclosing trade secrets," it must comply with the inspection request. It is noteworthy that the shareholder's right to information is personal in nature, and after the transfer of shares, the original shareholder generally cannot exercise retrospective rights. It is recommended that shareholders clearly define the scope of inspection in the company's articles of association and retain written request evidence to prepare for litigation.