Useful business law expressions for company and commercial lawyers.
- to set up a company (usually by registration at companies house in the UK) The whole, internet based process (el proceso completo) takes 24 hours from start to finish, including company bank account.
- registered office (could be the business premises {local}, the lawyer»s office or the home address of one of the directors).
- shareholders/subscribers/members (these are all words for people who hold shares in the company {accionistas}).
- nominal value: (the share price when the company is first created-in the UK this is usually 1 UK pound).
- premium: (the market value minus the nominal value is the premium).
- issued share capital: (the amount of share capital that a company has. On formation, this will usually be 10,000 1 pound shares, which in a private limited company do not have to be paid up. Since 2009 in the UK, there are no limits with regard to the share capital that a company can issue).
- memorandum: (contains the names of the first shareholders in the company).
- articles of association: (set out the rules for running the company»s internal affairs, eg..procedures for holding company meetings, directors» duties, and procedures for selling company shares etc….)
- limited liability (from this we get LTD. Basically it protects the personal assets of the directors,
- PLC (public limited company-minimum 50,000 pounds of share capital. This vehicle is usually used to list a company on the public markets, eg….The Footsie in the UK.
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