The Improvement of Legal Framework of the Limited Liability Company Provided by International Uniform Law
The Improvement of Legal Framework of the Limited Liability Company Provided by International Uniform Law

Author(s): Charlotte Ene, Ileana Voica
Contributor(s): Catalin-Silviu Sararu (Editor)
Subject(s): Law, Constitution, Jurisprudence
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: European company law; European Private Company; Societas Privata Europaea; cross-border activities; articles of association
Summary/Abstract: One of the tasks assumed by the European Commission is to create a suitable legal framework for companies in order to facilitate the cross-border cooperation and to consolidate the European internal market. This article examines mainly the legal framework of Societas Privata Europaea, a supranational private limited liability company designated especially for small and medium enterprises, as one of the dimension of the harmonization process of the corporate law in the EU. In this regard, it starts by outlining the evolution of the European Private Company, and then presents the proposal for the Statute of this company. In the end, this article are analyzed other provisions regarding similar supranational structure drafted by international law-makings in order to draw the future developments. In conclusion, this form of supranational company will improve the legal framework of Limited Liability Company by eliminating a great amount of uncertainties in doing trans-border businesses into internal market, and allowing to set up the same European legal entity across the Member States.

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