LIMITED COMPANY

Limited Company

Limited Company

Limited Company

The limited liability company is a corporation with its own legal personality (Legal Entity). For its liabilities, it shall be liable only the company's assets. The limited liability company may be founded by legal entities or natural persons. The construction is carried out by one or more persons to conclude a social contract. The capital contributions of the partners forming the share capital of the company. As a legal entity under private law, it is independent bearer of rights and obligations, and it can purchase ownership agreements and conclude before court sue and be sued. As can be seen already in the title, the liability in such companies is limited. The limitation is that the liability is solely with the business assets - not the partners are liable for obligations of the Company. Liability of shareholders is only against the company by the capital contribution paid.

Discussion

A limited liability company (LLC) or limited company (SL) is a type of corporation in which the liability is limited to capital contributed, and therefore, in the event of contract debts, not met with the personal assets of partners.

The shares are not equivalent to the actions of corporations, as there are legal obstacles to its transmission. Also, it does not have the character of "value" and cannot be represented by certificates or book entries, with required transmission through public document that is recorded in the register of members. It is in deed and subsequent registration in the commercial register, at which acquires legal personality.

The management and administration of the company is responsible to a governing body. This governing body consists of the General Board and administrators, who are the stewards of the company.

The corporation is under the sole proprietorship, the most common legal form. The reason for the high attractiveness is because the liability is limited to the company. Therefore, it is particularly suitable for groups of partners who are involved but in society, but want to reduce the risk to the capital contribution.

To the creditors of the company, it at least provides some protection. The legislature requires a minimum capital contribution to the company. It has the so-called capital of a limited company at least EUR 35.000, - to be. Half of it has to be introduced in the form of cash. In addition, contributions are possible.

The corporation is a legal entity. This means that they can have rights and obligations as a human being. Since the company can make itself a contracting entity and any statements from any action, it takes a natural person as director.

Capital

The minimum share capital of limited companies is EUR 35.000, and the minimum initial contribution of each shareholder is equal to EUR 70.

Foundation

The establishment of limited liability implies a social contract, which must be the conclusion of the contract in the form of an act.

Representation

The representation of the GmbH is outside by one or more managing commercial law that are made in case of fault for the damage done by fully ...