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Understanding Stock Companies: Economic Relevance, Regulation, and Characteristics - Prof., Apuntes de Administración de Empresas

An in-depth analysis of stock companies, including their economic relevance, regulation, concept, types, corporate name, nationality and address, and sole ownership. It covers various aspects such as the shift from shareholder to investor, the evolution from commercial code to corporations acts, and the importance of capital and commercial nature. It also discusses the differences between corporations, limited liability companies, and stock partnerships, as well as the concept of control in groups of companies.

Tipo: Apuntes

2016/2017

Subido el 04/02/2017

mariapinilla35
mariapinilla35 🇪🇸

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LESSON IV: Stock Companies
_____________________
I. Economic relevance and Regulation.
Capital prevails over the title of partner.
From shareholder to investor.
From the Commercial Code to the Corporations Acts
(“Ley de Sociedades Anónimas”) of 1951 and 1989
and the Stock Companies Act (“Ley de Sociedades de
Capital”).
International regulation.
Pages 189-197 and 337-340, Vol I, “Principios de Derecho
Mercantil” by SANCHEZ CALERO.
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LESSON IV: Stock Companies

_____________________

I. Economic relevance and Regulation.

  • (^) Capital prevails over the title of partner.
  • (^) From shareholder to investor.
  • (^) From the Commercial Code to the Corporations Acts (“Ley de Sociedades Anónimas”) of 1951 and 1989 and the Stock Companies Act (“Ley de Sociedades de Capital”).
  • (^) International regulation. Pages 189-197 and 337-340, Vol I, “Principios de Derecho Mercantil” by SANCHEZ CALERO.

II. Concept and types of stock companies

  • Corporations (“Sociedad anónima”) as model for stock companies: originally more detailed regulation.
  • Limited liability companies (“Sociedad de responsabilidad limitada”) as a legal regulation fitting small closed companies. It is the most commonly used (98.90 % of the 93, companies incorporated in 2013).
  • Stock partnership (“Sociedad comanditaria por acciones”: very seldom used. Now regulated in the Stock Companies Act. Arts. 1 and 2 LSC.

III. Corporate name, nationality and address Corporate name

  • First identification item.
  • Corporate name is not the same as trademark.
  • Use of abbreviations for each type.
  • Regulation in articles 6 and 7 LSC and in the Trade Registry Regulations (“Reglamento del Registro Mercantil”).
  • Proceedings before the Central Trade Registry (“Registro Mercantil Central”), Corporate Names Section: http://www.rmc.es/Deno_certif.aspx Pages 197-201, Vol I, “Principios de Derecho Mercantil” by SANCHEZ CALERO.

Nationality and address

  • Nationality does not only serve as identification but as criterion to determine the applicable legal system (rights and duties, formalities, supervision, etc.).
  • Defined by place where address is fixed.
  • The address must be determined according to the effective activity, i.e. the place of business. Website
  • Compulsory for listed companies.
  • Publicity purposes. Articles 8 to 11 LSC.

V. Groups of companies

  • Initially regulated by Tax Law.
  • Essential concept is “control”.
  • The group may exist “de facto” or as the result of a contract.
  • Different to the invidual undertaker ot businessperson: separate legal personality.
  • The extent or “perimeter” of the group must be determined.
  • Holding and subsidiary.
  • Defined in article 42 of the Commercial Code (as foreseen in article 18 LSC).