The article defines basic characteristics in case of selected ancillary arrangements and their later categorization, in particular the tag-along right and the drag-along right and their variants. The existence of several variants of these rights in the legal system allows their classification to different categories. While for one category these rights are standardised by law, the legal basis for others can be derived only from contract law and the principle of collective bargaining autonomy. The differences should also be seen in the context of different branches of law (corporate vs. contract law) and different legal forms of companies (simplified joint-stock company, joint-stock company, limited liability company) in which the rights at issue are applied.
The subject of the article is aimed on a closer analysis of tag-along right. Tag-along right primarily protects the minority shareholder, who is thus given the opportunity to co-sell his shares on the same terms and conditions as the majority shareholder. Tag-along right is a relatively common part of shareholder agreements, especially in closed companies. The article focuses on the tag-along right agreed by shareholders in the environment of simple company by shares, where the Commercial Code specifically regulates the legal consequences of the violation of this right.
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