Societas Privata Europaea: the Development of the Project
Societas Privata Europaea: the Development of the Project

Summary/Abstract: The proposal for the Council Regulation on the Statute for a European Private Company was presented on 25 June 2008. The proposal aims to establish a European Private Company Statute with limited liability and became a part of the program called the «Small Business Act» created by the European Commission to improve access for SMEs to the Single Market and to promote their development in the EU. The article deals with the preconditions for the creation of European Private Company. The paper consistently examines the sources of legal regulation and ways of foundation of a European Private Company, addresses the general provisions of the proposal for Regulation, as well as the advantages of the European Private Company, which define their current effectiveness in entrepreneurial activity. The article analyses the development of the project and explains the reasons of deep controversies on key matters, which predetermined the withdrawal of the proposal. The paper also presents the conclusions and suggestions.

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