Corporate Governance im Recht der Verwertungsgesellschaften

Collective management organisations (CMOs) combine a very diverse group of rightholders to jointly exercise their rights. As the long-standing dispute in the "publisher's share" case illustrated, the interests of the individual rightholders may diverge greatly. Within the CMOs organised as GmbHs or associations pursuant to Sec. 22 German Civil Code [BGB], structural conflicts of interest also arise between the rightholders and the organs of the organisation. The German Collecting Societies Act [VGG], which came into force on 1 June 2016, addresses the resulting conflicts to a certain extent, but even in these cases the CMOs enjoy considerable leeway with regard to implementation. Drawing on corporate governance research, which is best known from capital market law, this study shows how conflicts can be resolved or at least mitigated.