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- most important category of merchants that participate in IT relations
- the types of merchants legal persons are provided by the national legislations
- all the systems of law include the commercial companies within the category of merchants legal persons
- in order to make the difference between the commercial companies and other companies legal persons (e.g.: civil companies) the systems of law of the states in the world use 2 approaches as follows:
1. some states use only the principle of specialty of the abstract capacity of the company, therefore, in accordance with this principle, the commercial company is the company that performs commercial acts no matter in which juridical form it is organized.
2. other states such as Romania use the principle of specialty together with the principle of the juridical form of the company, therefore the commercial companies perform commercial acts and are organized in one of the juridical forms provided by the law
e.g.: law 41/1991 provides 5 juridical forms for the commercial companies:
1) the general partnership
2) the limited partnership
3) company by shares
4) limited partnership by shares
5) limited liability company
In most systems of law the constitutive act of the company is subject to publicity as follows:
1. registered in the Register of Trade
2. published in the Official Monitor or the Official Journal of the country
In most states the national law recognizes the quality of legal persons for commercial companies such as in Romania.
In other states the companies of persons (private partnerships) are not legal persons but they have a certain legal personalitythey are allowed to conclude commercial contracts and to defend their interest in a court of law.
All systems of law provide the distinction between companies of persons and companies of capitals. They also regulate the LLC that cannot be included in one of these 2 categories.
Companies of persons= those companies that are set up by a small number of persons taking into account the mutual trust between partners and their personal qualities
Companies of capitals= are set up by a great number of persons taking into account only the actual contribution of the associates to the capital of the company
In all systems of law the constitutive act of the commercial company must contain at least the following elements:
1. the contribution of the associates to the capital of the company
2. the manner in which the associates share the profit and the losses of the company
3. afectio societatis= the will of the associates to participate in the performance of the common activity and the common use of contributions and capital in order to obtain profit.
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- Drept Comercial International.doc
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