Companies

Question 1

articles of association

Answer 1

Is a document where the regulations of a company’s operations are specified and the purpose of this company is defined. (Gesellschaftsvertrag)

Question 2

articles of incorporation

Answer 2

A document that establishe the existence of a corporation. (Satzung, Gründungsurkunde)

Question 3

commercial register

Answer 3

Is a public directory that provides information about registered merchants. It provides information about the essential legal and economic conditions of merchants and companies. Everyone can have a look in it.

Question 4

cross subsidization

Answer 4

Cross subsidization is a situation in a company in which profits from one activity/area are used to pay for another activity/area that is losing or making less money.

Question 5

Memorandum of association

Answer 5

Defines the realtionship between a limited liabil company and the shareholders. It describes the name, place of headoffice, distrubtion of shares, names of shareholder. (Auch Gründungsurkunde)

Question 6

Sole Proprietorship

Answer 6

This is the easiest and most straightforward type of business to form. Sole proprietorships are owned and run by only one person

Question 7

Solicitor

Answer 7

Generally, a solicitor will consult with his or her client and prepare a brief. In comparison to the other type of practicing lawyers, the barristers, the solicitors have rights of audience in only some courts.

Question 8

ulimited liability

Answer 8

The partners or shareholder are liable for all debts of the company.