The concept, types and specifics of establishing business companies in EU countries

Abstract

The scientific article examines international experience regarding to the concept and types of business partnerships. The author analyzed national legislation, legal acts of the EU and Great Britain, as well as the scientific views of domestic researchers on the issues selected in the article. It is emphasized that legal approaches to the concept and types of business partnerships have common features, while each legal tradition is endowed with certain characteristics. In particular, for countries with the anglo-saxon legal system (Great Britain), the division of business associations into companies and partnerships is typical, while for countries with the romano-germanic legal system, the division into capital partnerships and partnerships of individuals is typical.
The article emphasizes that German legislation also includes partnerships that are not legal entities and are created on the basis of a founding agreement. The Austrian legislator also divides business partnerships into partnerships of individuals that are not legal entities (limited partnership, open partnership, simple partnership and closed partnership) and capital partnerships that have the status of legal entities (LLC, JSC and European company).
In France, all business companies have the status of a legal entity, are created on the basis of a constituent document and are subject to state registration. In Estonia, partnerships are general and limited partnerships, the founding document of which is a partnership agreement, while capital partnerships are LLCs and JSCs. A feature of Estonian legislation is that LLCs and JSCs are established on the basis of a founding (establishment) agreement, the annex to which is the statute.