Comparative study of companies with limited liability

The landmark decision Centros by the European Court of Justice in March 1999 which confirmed and broadened the freedom of esstablishment of companies within the European Union revealed that no comprehensive study on the law of companies with limited liability (private company with limited liability and public corporation) does exist. The research project will therefore investigate the law (in particular organization and capital requirements) of the two types of companies by means of four different approaches: (1) historical development; (2) comparative analysis including both EU-member states and former communist countries entering the community; (3) aspects of European law (restrictions, stand still, petrification of harmonized law) and (4) fundamental economic considerations which could lead finally to proposals to the legislator. Influence of the proposed work on the development of the field The object of the study is to analyze the legal order of the two types of companies with limited liabilty and to detect deficits in order to improve single regulations as well as general legal instruments to meet the main task of corporate law to offer a reliable and working backbone for the market participants and the economy as a whole. The study should be the basis for the competetion of different legal orders to find the best solution for common problems within different frameworks and should stimulate further research and discussion. The work will be an important contribution of Austrian research to common European questions not ony within the European Community but in particular with regard to our neighbour countries in Middle- and Eastern Europe.

The landmark decision Centros by the European Court of Justice in March 1999 which confirmed and broadened the freedom of esstablishment of companies within the European Union revealed that no comprehensive study on the law of companies with limited liability (private company with limited liability and public corporation) does exist. The research project will therefore investigate the law (in particular organization and capital requirements) of the two types of companies by means of four different approaches: (1) historical development; (2) comparative analysis including both EU-member states and former communist countries entering the community; (3) aspects of European law (restrictions, stand still, petrification of harmonized law) and (4) fundamental economic considerations which could lead finally to proposals to the legislator. Influence of the proposed work on the development of the field The object of the study is to analyze the legal order of the two types of companies with limited liabilty and to detect deficits in order to improve single regulations as well as general legal instruments to meet the main task of corporate law to offer a reliable and working backbone for the market participants and the economy as a whole. The study should be the basis for the competetion of different legal orders to find the best solution for common problems within different frameworks and should stimulate further research and discussion. The work will be an important contribution of Austrian research to common European questions not ony within the European Community but in particular with regard to our neighbour countries in Middle- and Eastern Europe.