German company law (Gesellschaftsrecht) is an influential legal regime for companies in Germany. The primary form of company is the public company or Aktiengesellschaft (AG). The private company with limited liability is known as a Gesellschaft mit beschränkter Haftung (GmbH). A partnership is called a Kommanditgesellschaft (KG).
[edit] Aktiengesellschaft
Main article:
Aktiengesetz[edit] Shareholders
German law specifically reserves shareholders right and duty to approve substantial non cash asset transactions through case law in Germany under the so called Holzmüller doctrine.[1]
Constitutional amendments can be made at any time by 75% of shareholders (§179 AktG).
[edit] Employees
[edit] Management board
In Germany, §76 AktG says the same for the management board, while under §111 AktG the supervisory board's role is stated to be to "supervise" (überwachen).
[edit] Supervisory board
Main article:
Aufsichtsrat§84(3) AktG states that management board directors can only be removed by the supervisory board for an important reason (ein wichtiger Grund) though this can include a vote of no-confidence by the shareholders. Terms last for five years, unless 75% of shareholders vote otherwise. §122 AktG lets 10% of shareholders demand a meeting.
[edit] Gesellschaft mit beschränkter Haftung
[edit] Kommanditgesellschaft
[edit] See also
- ^ The Bundesgerichtshof held that shareholders must approve a sale of assets amounting to 80% of the company's value
[edit] References
[edit] External links
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