The purpose of this study is to determine the legal protection model for majority shareholders and minority shareholders in public limited companies. This research method is normative research. In order to investigate the ineffectiveness of laws and regulations, in particular, Law No. 40 of 2007 on limited liability companies in providing shareholder protection, researchers have studied the laws and regulations and considered the views of experts on legal concepts related to legal protection for shareholders, in particular minority shareholders. The results showed that the law was not maximal in providing fair legal protection for minority shareholders, so there was an imbalance between the rights of minority shareholders and majority shareholders. For this reason, 1) reform or progressive changes in laws and regulations are needed, in this case, PT Law No. 40 of 2007. These changes should be fundamental to philosophical aspects (values ​​and perspectives) in providing shareholder protection, 2) changing views of protection shareholders should pay attention to aspects of fairness.

Index Terms- Protection, Reform, Minority Shareholders