The article provides a theoretical analysis of the legal regulation of the participation of the Russian state in public joint-stock companies. The mechanisms of proper legal support of state interests in the process of Russia's participation in joint-stock companies are being studied. Along with this, in addition to the participation of the state in the economy as a regulatory force, it also acts as an “independent economic entity, an economic player with its own program of actions, although secondary in scale compared to the tasks that private companies perform at the request of the market.” At its core, the state is called upon to ensure the functioning of the economic complex as a whole - both institutionally and replacing private capital where it cannot or is not interested in acting, eliminating market shortcomings and acting for the benefit of society.