By Michael Wendler, Bernd Tremml, Bernard John Buecker
This booklet offers a transparent and targeted review of the major points of German company legislation. It was once written by way of lawyers focused on the day-by-day perform of bu- ness legislations in Germany and is aimed toward those that desire to orient themselves fast with the German felony method and the style within which it affects bu- ness purchases, institution, operations and liquidations. the 1st element of the publication is dedicated to a proof of the key matters to be thought of in buying or constructing a company in Germany. the second one part specializes in parts of industrial legislation which are very important for an working enterprise. compared to the final variation 4 new components (transportation legislation, customs rules, assurance legislations and country legal responsibility legislations) are taken care of. The f- lowing sections take care of exertions legislation as an self sufficient a part of German enterprise legislations and with machine legislations. moreover, procedural legislations and ecu legislation are addressed. ultimately, the final sections of the ebook are dedicated to an summary over the German tax legislation, which has a tremendous impression on company judgements, and IP legislation. In all sections precise realization has been paid to highlighting and explaining the diversities among the German felony procedure and that of the USA. however, the purpose is to supply details that would end up necessary to all foreigners, relatively enterprise women and men and legal professionals advising consumers with an curiosity in doing enterprise in Germany.
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Extra info for Key Aspects of German Business Law: A Practical Manual
Sample text
The main and most important difference between an OHG and a KG is that the KG consists of two different kinds of partners: personally liable partners (Komplementäre) and limited liable partners (Kommanditisten). As their designations clearly indicate, personally liable partners are liable for the debts of the company without any limitation. Their rights and duties correspond to those of an OHG partner. Normally, because they devote their labor and are subject to greater financial risk, personally liable partners are responsible for the company’s management and representation.
In general, a small merchant is not required to register the proprietorship in the commercial register. Sole proprietors, like the general partners of an OHG, are subject to personal liability for all the debts of the business. Consequently, their private assets can be impounded if necessary in order to satisfy the claims of creditors. If sole proprietors are engaged in the types of merchant trade, then they are considered to be operating Handelsgewerbe and must register the business. 2 Branch Office (Zweigniederlassung) Instead of or in addition to the formation of a new enterprise, it is often advisable for a foreign company to set up a branch office (Zweigniederlassung) in Germany.
The assets of a GbR are held by all partners jointly (Gesamthandsvermögen, or joint ownership). The assets cannot be disposed of without agreement between all the partners (Section 719 BGB). The partners cannot transfer their membership and share of the assets to another person without the agreement of the other partners or unless provisions to the contrary were made in the partnership agreement. All of the partners normally have the same rights. They jointly share in the profits and losses and equally participate in any liquidation proceedings.