In china’s corporate practice,with the continunous develepment of the company,a dormant shareholders phenomenon in Limited Liability Company appears frequently.Undisclosed investment makes the company’s internal and external relations fuzzy and sometimes chaotic,and then produces a large number of disputes between the shareholders, the company and shareholders,and corporate transactions between relative.Therefore ,undisclosed investment issues ,such as the identification of the nominal shareholder and the actual legal status of the investor,the legal effect of dummy shareholder’s punishment options have always been the concern of the company’s legal system.In undisclsed investment,nominal shareholder,as the person of the Articles of Association, the regist of shareholders,capital contrsbution certificate,the campany registration on authority to be documented person identified in the external punishment equity,should have its shareholder qualification.He has the right to dispose its share, the Third one can obtain the corresponding equity,the actual investor can only investigate for Civil responsibility to dummy shareholder according to the breach of the contract between them ,but not the constitute the article 25 of Company Law Explained(3) ,in that Bona Fide Possession is based on unauthorized dispositon.