||This thesis concentrates on the agency problems that are embedded in corporations and their solutions by corporate law. We explain two specific agency problems in detail and review solutions to them by different jurisdictions. We provide an overview of how Czech corporate law and regulation tried to solve them after 1990. Then, the concept of private benefits of control is introduced and used to measure the quality of law and regulation in the Czech Republic. We come to the conclusion that the quality of law and regulation has improved and reached a level comparable with Western European countries.