The master as an academic title
One means the right which deals with the laws and rules of private partnerships by society right. The basic rules of the present society right go back to the BGB of the year 1896 and the HGB from the year 1897. The limited companies became 1937 from this right organize. Since the foundation of the European Union further developments occur in the society right - particularly in the European society right that is valid next to the general society right.
There is a society accordingly under following conditions:
- a contractual alliance of several persons
- the alliance of these persons must serve a by law allowed purpose
- the contracting parties must support the common purpose.
The society forms being selectable are listed in the law. There are partnerships, those ones are the society of middle class right (GbR), the Open trading company (OHG) and the limited partnership (KG). Then there are still the joint-stock companies, those ones are the limited company (Limited company) and the society with restricted liability (GmbH). Moreover one differentiates between partnerships and associations, to which also the limited company and to belong the GmbH. The difference between a partnership and an association consists in the legal dependence on the companions and the structure of the organization. The society according to middle class right and the association according to middle class right are basic forms. A partnership is not a juridical person and does not have therefore also any independent right personality although she has rights and duties. Also independent juridical persons are the entered association (e.V.) - the members', however no property has must have - and the having legal capacity donation - that owns a property dedicated to the donation reason, but does not have any members. Joint-stock companies are juridical persons.
The limited company becomes the juridical person with the registration. The capital stock of the limited companies is divided into stocks and is at least 50.000 euros. The limited company clings only with the partnership assets. Organs of the limited companies are the executive board, the supervisory board and the general meeting. The executive board is elected through the supervisory board and exists at the most five years. The supervisory board exists from at least three to at the most twenty-one members. In the general meeting the rights of the stockholders are perceived. The society with restricted liability should be a simplified limited company. She is a juridical person, she runs a commercial business, she is a joint-stock company and she has a common stock of at least 25.000 euros. Before the registration into the commercial register of that at least 12.500 euros must be paid in, thing insertions must be brought in immediately. The GmbH must make an appointment with at least a manager. The entrepreneur society (UG) is a variant of the GmbH, the regulations of the GmbH are valid in general. The common stock is to be paid in before the registration, in the case of transgression of the amount of 25.000 euros the UG becomes the GmbH. Except for these societies there are still hybrid forms which consist of several societies (Capital and person societies). In order to facilitate a change of the society form, the transformation right was created. One finds the most important basics for the society right in the HGB, the AktG and the GmbHG, in addition the general regulations of the Middle Class Legal Code are valid.