Gualda Memorandum for a Correct Corporate Law
Considering Gualda being a country which will face in the following years a constant and exponential economic growth, there have to be several guidelines to set up the private economy in legal terms. As the main objective of this memorandum will be setting up a correct corporate law; public law will not be omitted, but there will be a reasonable difference in length and depth of description of this two previous matters, in comparison with the information provided about the main topic of the writing.
Public Law of Gualda:
As it is commonly defined, public law governs the relationship between the state and individuals. If we want to have a perfect (or nearly utopic) corporate law, we need to first consider choosing the most correct way of mediating the legal …show more content…
Because of the existence of such vast amount of public aid available for so many companies that will be willing to set their bases in Gualda, there has to be also some boundaries regarding what can and cannot be done in a private company within the nation’s borders.
Regarding legal personality, the corporation will still have a patrimony separated from the owners’ patrimony. Corporations only can be sued and sue in their name. Corporations will be able to delegate authority to agents. In order to avoid disturbances and complications, there will be a civil official monitoring every board of directors of each of the big companies based in Gualda. The civil official will be remunerated by the company where he has been assigned to. He will not be able to hold any stocks of the company nor receive any type of bonus from the company he works for. Remuneration of this public worker will be imposed by the government of Gualda. The official will have the duty to attend every meeting of the board of directors and the company will also have the duty of informing and contacting the official whenever anything concerned with the board of directors
Considering Gualda being a country which will face in the following years a constant and exponential economic growth, there have to be several guidelines to set up the private economy in legal terms. As the main objective of this memorandum will be setting up a correct corporate law; public law will not be omitted, but there will be a reasonable difference in length and depth of description of this two previous matters, in comparison with the information provided about the main topic of the writing.
Public Law of Gualda:
As it is commonly defined, public law governs the relationship between the state and individuals. If we want to have a perfect (or nearly utopic) corporate law, we need to first consider choosing the most correct way of mediating the legal …show more content…
Because of the existence of such vast amount of public aid available for so many companies that will be willing to set their bases in Gualda, there has to be also some boundaries regarding what can and cannot be done in a private company within the nation’s borders.
Regarding legal personality, the corporation will still have a patrimony separated from the owners’ patrimony. Corporations only can be sued and sue in their name. Corporations will be able to delegate authority to agents. In order to avoid disturbances and complications, there will be a civil official monitoring every board of directors of each of the big companies based in Gualda. The civil official will be remunerated by the company where he has been assigned to. He will not be able to hold any stocks of the company nor receive any type of bonus from the company he works for. Remuneration of this public worker will be imposed by the government of Gualda. The official will have the duty to attend every meeting of the board of directors and the company will also have the duty of informing and contacting the official whenever anything concerned with the board of directors