Commercial law consists of legal norms of private law which cover organisation of companies and commercial activities. The Code of Commercial Companies (kodeks spółek handlowych), the Civil Code, the Constitution, common law and international conventions are basis of commercial law.
The scope of commercial law is wide. It covers, among others, general matters of economic activity, laws and regulations for registration and performance of companies, associations, foundations, banks and individual economic operators. According to Polish law, there are several types of companies which can be divided into capital (limited) and partnership. The first category consists of joint-stock company (spółka akcyjna) and public limited liability company (spółka z ograniczoną odpowiedzialnością). The other category contains non-commercial (spółka cywilna), general (spółka jawna), limited partnership (spółka partnerska) and partnership (spółka komandytowa).
Commercial law companies
A joint-stock company is a commercial partnership which has its legal personality and share capital of minimum 10 000 PLN, which comes from financial shares of founders of the partnership – shareholders. Public limited liability company is a capital partnership founded by a few persons. In such a company, it is the capital of the partnership and not the shareholders responsible for company’s debts.
General partnership is a simple form of company, which is defined by civil law. It can be funded by natural persons or economic operators, but it does not have legal personality. In both cases, the owners are financially responsible with their own property.
Partnership is funded by liberal professionals. The owners are not obliged to pay the debts of the partnership with their own property, unless it is a loan or mortgage. Limited partnership is personal and commercial partnership, whose debts are paid by only one of the holders (general partners).
The decision which type of partnership to choose should be preceded by thorough analysis of any legal aspects. Our Firm offer a wide range of services connected with both registering and running companies. Due to wide knowledge of commercial law and long term experience, we propose our clients best solutions.
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