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Some specific aspects concerning the company by shares
Authors: Lecturer Ana-Maria LUPULESCU
Number of views: 201
The company by shares is the prototype of company of capitals, since this legal
form of company is set up and functions only based on the contributions made by the
associates, who are liable for the social obligations within the limits of these contributions,
so that the person of the associates or the trust between them is irrelevant. In exchange for
the contributions they make within the company, the shareholders receive negotiable
instruments, which can be transmitted freely. From this perspective, the company by shares
was conceived as a form of organizing large-scale activities that require and concentrate
important funds, made available to the company by a large number of shareholders. These
significant aspects, which have influenced the legal regulation applicable to it,
characterized by excessive formalism, complicated and strict rules, with countless
conditions imposed by the law in order to protect both third parties and minority
shareholders, lead to the conclusion that this legal form of company is not appropriate for
small activities with a reduced number of associates, because the advantages of choosing
this form of company are not justified, as compared to the disadvantages it implies. Within
this context, we consider that an analysis of this form of company, even though is not
intended as exhaustive, but highlights particular significant aspects that underline its
juridical specificity, may appear important and particularly useful, both for analysts in law
and practitioners.