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In the work I have treated the notion of the preferential subscription right as a prerogative attributed to the associates of the joint-stock company on the one hand which is summarized on the function and the scope of the preferential subscription right in the capital increases in addition to the modalities of exercise of this preferential subscription right in the capital increases. On the other hand there are the measures of protection of the associates in case of suppression of the preferential subscription right in the capital increases of the joint stock companies in Morocco which relate in general to the fate of former shareholders in case of suppression of preferential subscription right and also how to protect the shareholders in case of suppression of preferential subscription right in the capital increases. In general, the preferential subscription right in the capital increases in joint stock companies remains an optional right for the shareholders but has a primary purpose concerning the protection of the associates in case of capital increase.