How to understand the principle of non- splitting of shares in Polish and German company law – a tale of historical equivalence and comparative importance
How to understand the principle of non- splitting of shares in Polish and German company law – a tale of historical equivalence and comparative importance

Summary/Abstract: The article examines the understanding of the principle of non-split-ting, showcasing the historical and comparative equivalence of the Germanand Polish legal systems. It concerns the non-splitting of shares in Polish andGerman law, as applied to the limited liability company and the non-publicjoint-stock company. It is aimed at conceptualizing in a comparative mannerthe theoretical model of non-splitting, and encompasses discussions about itsnature, content, and normative bases for its binding force. Under Polish lawtwo different understandings of the principle of non-splitting of shares are dis-tinguished: the principle of non-splitting in the strict sense, and the principleof non-splitting in the broad sense. It is argued that German law uses the con-cept of prohibition of splitting, while in the Polish legal system this concepthas been further developed and is to be perceived as a principle of non-splittingof shares that is to be classified as general principle of company law.

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