Abstract: The subject of this research consists in the norms of the legislation of the Russian Federation and Azerbaijan regulating the internal corporate relations within publicly traded companies and LLC, as well as the rulings of the higher courts and legal doctrine of the countries in question. The object of this research is the internal relations within PTCs and LLCs of these countries. The authors research the prospects and horizons for the internal corporate and inter-corporate relations, comparing these concepts based on the doctrine of the Russian Federation and Azerbaijan. The novelty of this research lies in the comparative legal analysis of the regulation of internal relations within the PTCs and LLCs in Russia and Azerbaijan. The work employs the materials from the current Russian and Azerbaijan legislations with consideration of their latest revisions.