国际商法课件( English ).ppt

ChapterTwoLawofBusinessOrganizations,I.IntroductionII.PartnershipLawIII.LawofCorporationsIV.ForeignInvestmentEnterprisesinChina,KeyTerms,Soleproprietorship:个人独资企业Partnership:合伙企业Limitedpartnership:有限合伙Limitedliabilitypartnership:有限责任合伙Incorporatedcompany:股份有限公司No-liabilitycompany:无限责任公司Jointventure:合资企业LegalPerson:法人,Memorandumofassociation/articlesofincorporation:公司章程By-laws:附则，内部细则Boardofdirectors:董事会Boardofshareholders:股东会Debtsecurity:债券Forcemajeure:不可抗力Insolventliquidation:破产清算Jurisdiction:司法权，裁判权，管辖权,I.Introduction,Businessorganization,alsocalledbusinessenterprise,referstotheeconomicorganizationthatpursuesmanagementactivitieswithitsownnamewithcertainscale.Therearetwokindsofmeaningwithinternationalbusinessorganization:oneistheorganizationpursuinginternationalbusinessactivities;andtheotherisformsofinternationalbusinessorganizations.,Ifpeoplewanttocommenceabusiness,therereanumberoffactorshavetobeconsidered,including：1)Thepurposeofthebusiness.2)Itsduration.3)Thecost.4)Thetaxation.5)Thesettingupprocedure.6)Thetypeofassetsrequired.,7)Whoshouldbeentitledtoparticipateinincomedistributions.8)Whoshouldbeentitledtoparticipateincapitaldistributions.9)Whetherthemembersinterestshouldbetransferable.10)Theregionofthebusinessorganization.11)Thefunctionofthememberofthebusinessorganization.,II.PartnershipLaw,1.DefinitionandNatureofPartnershipPartnershipistherelationwhichsubsistsbetweenpersonscarryingonabusinessincommonwithviewofprofit.Therequirementsofapartnershipare:twoormorepersons;carryingoutabusiness;asco-owners;forprofits.,2.AdvantagesandDisadvantagesofaPartnershipTheadvantagesofapartnershipcanbesummarizedasbelow:(1)Informalityandinexpensivenessinsettingup.(2)Flexibility.(3)Tax.,Thedisadvantagesofapartnershipareasbelow:(1)Liability.(2)Transferofinterestisnotaseasyasthetransferofshareinthecompany.(3)Unanimousdecisions.(4)Agency.,3.Importantpreliminaries(1)Formalities/procedure1)Apartnershipagreementlastingformorethanoneyearmustbeevidencedinwriting.2)Limitationsonapartnership.3)Anti-discriminationandequalopportunitylegislationapplytopartnership.,(2)PartnershipContractPartnershipcontractisanagreementbetweenpartnersconcerningtothefirmbusiness.Thefollowingcontentsareoftenincludedinapartnershipcontract:1)Thenameofthepartnershipandpartners,andtheaddressofthem.,2)Thenatureofthepartnershipandoperationscopeofit.3)Theduration.4)Methodandnumberofcapitalcontributing.5)Profitdistributionandlosstaken.6)Management.7)Incoming,outgoinganddissolution.8)Liabilityforbreachofthecontract.9)Othercontent.,(3)ProfessionalRestrictions(4)PartnerbyEstoppelTwopersonsmaynotbepartners,yetintheeyesofathirdpersontheymayappeartobepartners.Ifthethirdpersondealswithoneoftheapparentpartners,hemaybeharmedandseektorecoverdamagesfrombothoftheapparentpartners.,Forexample,DavidthinksthatWilson,awealthyperson,isapartnerofPorter,apoorperson.DaviddecidestodobusinesswithPorter.IfPorterdoesnotperformasagreed,andDavidcanprovethatWilsonmisledhimtobelievethatWilsonandPorterwerepartners,hemaysueWilsonfordamagessufferedwhenPorterfailedtoperformasagreed.,4.RightsofaPartner(1)ManagementofthePartnership(2)RighttoShareintheProfitsandSurplus(3)RighttoInspectRelatedMaterials(4)PropertyRightsofaPartner(5)RighttoGainCompensation,5.DutiesandLiabilitiesofaPartner(1)Duties1)Fiduciaryduty.Thiskindofdutyincludeseachpartnersfollowingactivities:a.Refrainingfrombusinessincompetitionwiththepartnership,engaginginself-dealing,orusurpingpartnershipopportunitiesunlesscopartnersconsent.b.Holdingthedutiesofloyaltyandcare.c.Dealingwithcopartnersingoodfaith.2)Dutyofpartnerstorenderinformation.,(2)Liabilities1)LiabilitiesofpartnersincontractandtotheThirdPartya.Theactionsthateachpartnerparticipatinginthepartnershipaffairstakeswillbindthepartnershipandotherpartners.b.Therightlimittocertainpartnercannotresistthethirdparty.c.Thetortuousactonepartnerperformswhenparticipatinginthemanagement,towhichtheliabilitywillbeundertakenbythepartnership.,d.Thedebtsafteranewpartnerbeingadmittedasthepartnerofthepartnership,thenewpartnerthuswillbeliableforit.Butbeforethenewpartnerisadmittedasthepartner,therearethreekindsofconditions:thenewpartnerwilltakejointliabilitywithotherpartners,suchasinFranceandinJapan;thenewpartnerwillnottakeanyliability,suchasinEngland;,thenewpartnerwillbeliableforthedebt,exceptifthedebtisonlypaidwiththepropertyofthepartnership,suchasintheUS.e.Tothepartnerthathasleftthepartnership,ifthedebtincurredbeforethepartnersdeparture,thentheleftpartnershouldbeliableforit.,6.PartnershipPropertyTherelationshipofthepartnershippropertyincludesinternalpropertyrelationshipbetweenthepartnersandtheexternalpropertyrelationship.Itincludesthefollowingfouraspects:(1)Unifiedmanagementanduseofthepartnershipproperty(2)Theaccumulativepropertyofthepartnershipshouldbepossessedbyallthepartners.(3)Surplusdistributionandperformanceofdebt,Thesurplusgainedfromthemanagementofthepartnershipbelongstoallthepartners.Partnerscandistributethesurplusaccordingtothefollowingrules:1)Iftherearedistributionprovisionsintheagreementamongthepartners,theycandistributethesurplusunderit.,2)Ifthereisntdistributionprovisionintheagreement,thepartnerscandistributethesurplusaccordingtotheregulationoflaw.Forexample,partnerswilldistributethesurplusequallyregardlessofthenumberandkindoftheirfinancialcontributioninGermany.3)Partnersdistributesurplusandsharelossesaccordingtheirfinancialcontributionspecifiedintheagreement.,(4)DispositionofthepropertyaftertheterminationofthepartnershipIftheresstillsurplusafterthepartnershipendsup,allthepartnershaverightstodistributeit.Theycandistributeitaccordingtothepredeterminedproportionprovidedintheagreementoraccordingtotheirfinancialcontribution.,7.DissolutionDissolutionistheendingorthebreakingupofapartnership.Itisdistinctfromtheterminationofapartnershipandthe“windingup”ofpartnershipbusiness.Windinguptakesplaceafterdissolution.Apartnershipmaybedissolvedasfollows:,(1)Byretirementofapartnerwherethefirmisofnofixedduration.(2)Bycompletionoftheagreedperiodorventure.(3)Bydeathorbankruptcy.(4)Byunlawfullycarryingoutthebusiness.(5)Byorderofacourt.,8.WindingUpWindingupreferstotheprocedurefollowedbydistributingorliquidatinganyremainingpartnershipassetsafterdissolution.Generally,creditorsarepaidfirst.Thenthecapitalcontributionisreturnedtothepartners.Afterthisifthereareexcessfundstheliquidatorwilldistributetheminproportiontotheirrespectivesharesintheprofits.,9.LimitedPartnershipAlimitedpartnershipisaformofpartnershipsimilartoageneralpartnership,exceptforoneormoregeneralpartners,andthereareoneormorelimitedpartners.Alimitedpartnershiphasthefollowingcharacteristics:(1)Thenumberscopeofalimitedpartnershipisfrom2to50partners,andthereisatleastonegeneralpartner.,(2)Thegeneralpartnershavemanagementcontrol,representingthepartnershipandhavejointandseveralliabilitiesforthedebtsofit.Whilethelimitedpartnerscannotparticipateinthemanagementandcontrolofthepartnershipsbusiness,theirliabilityforthedebtsofthepartnershipisthecapitalcontributionstothepartnership.,(3)Asawholealimitedpartnershipshouldhaveunlimitedliabilitiesforitsdebts,becausetheresatleastonegeneralpartner.(4)Alimitedpartnercancontributemoney,materialproperty,intellectualpropertyrights,land-useright,andsoontothepartnership,butheorshecannotcontributelabortoit.,(5)Thedeathorbankruptcyofalimitedpartnercannotcertainlyaffectthepartnershipsexistence.(6)Alimitedpartnerandageneralpartnercantransfertoeachotherundercertaincondition.,10.LimitedLiabilityPartnershipAlimitedliabilitypartnershipismadeupoftwoormorethantwopartners,approvedandregisteredbythecompetentauthority,anditisliableforitsdebtswiththepartnershipproperty.Eachpartnerhasunlimitedliabilitiesforhisownmisconduct,andhaslimitedliabilitiesforotherpartnersrecklessconduct,buttheextentoftheliabilityishisprofitinthepartnership.,Alimitedpartnershiphaselementsofpartnershipsandcorporations,butunlikeshareholders,thepartnershavetherighttomanagethebusinessdirectly.Comparingitwiththegeneralpartnership,theessentialdifferencesare:(1)Scopeofapartnersliabilityshield.(2)Annualfilingrequirement.,CaseStudy,ThreeregisteredaccountantsZhang,WangandLisetupapublicaccountingfirmjointlywiththenameSpecialGeneralPartnership,supplyingtheservicesofauditingandcertificationofregisteredcapital.Duringtheauditingaffairsin2008,therehappenedthefollowingmatters:,1)WhenZhangwasauditingAPublicCompanysaccountingreport,heleftoutpartofthesalesrevenueswithgrossnegligence.ThecourtheldthatthepublicaccountingfirmshouldberesponsibleforthelossofA.ButZhangthoughtthathedidntdothisonpurpose,thusallthepartnersshouldtakejointliabilityfortheloss.,2)WhenWangwascertificatingtheregisteredcapitalofBcompany,hemadeamistakewithnegligence,andthusledtosomeeconomiclossesofthecreditorofBcompany.ThecourtheldthatWangsnegligencedidnotbelongtogrossnegligence.Answerthefollowingquestions:(1)WasZhangsallegationright?Why?(2)WhatshouldthepartnersdealwiththelossescausedbyWang?Pleasepresentyourreasons.,Answers,(1)Zhangsallegationwasnotright.Accordingtothepartnershiplaw,whenoneormoreofthepartnersactionleadstosomedebtsofthepartnershipdeliberatelyorwithgrossnegligence,theyshouldtakeunlimitedliabilityorunlimitedjointliability,andotherpartnerstakelimitedliabilityinaccordancewiththeirprofitproportioninthepartnership.Inthiscase,Zhangsactionwaswithgrossnegligence,sohewouldtakeunlimitedliability,andotherpartnerstooklimitedliability.,(2)TothelossescausedbyWang,allthepartnersshouldtakeunlimitedjointliabilities.Accordingtothepartnershiplaw,whenoneormoreofthepartnersactionleadstosomedebtsofthepartnershipnotdeliberatelyornotwithgrossnegligence,allthepartnersshouldtakeunlimitedjointliabilities.Inthiscase,Wangsactiondidnotbelongtogrossnegligence,soallthepartnersshouldtakeunlimitedliabilities.,III.LawofCorporations,1.DefinitionandCharacteristicsofCorporationsIncommonusagetheword“company”meansthoseassociatedforeconomicpurpose,i.e.tocarryonabusinessforprofit,andcoverspartnership,trusts,clubs,incorporatedassociationandtosomeextentalmostanybusinessoperationoperatingas“thecompany”.“Company”isbroaderthan“corporation”.,Corporationreferstothelegalbodyofenterprisethatisestablishedaccordingtothelawofcorporationforprofit.Atpresentthemostcommonformofcorporationsarelimitedliabilitycompaniesandjointstockcompanies.Acorporationhasthefollowingcharacteristics:(1)Theestablishmentofcorporationisaccordingtotheordainoflaworthepermissionofthegovernment.(2)Thepurposeofacorporationisforprofit.(3)Acorporationisalegalbodyofenterprise.,2.CompanyLawofsomeCountries,(1)BritishCompanyLaw1835贸易公司法1844共同股份法1855有限责任法1907有限责任合伙法1908公司合并法1929公司法1948(new)新公司法,(2)AmericanCompanyLaw1933标准商事公司法1969标准商事公司法（修订版）1984标准修订商事公司法,(3)FrenchCompanyLaw1673商事条例1807商法典1867公司法1925有限公司法1940revisedin1985,(4)GermanCompanyLaw1892有限责任公司法1897德国商法典1937股份法1965(new)新股份法(5)ChineseCompanyLaw,3.ClassificationsofCorporations(1)ClassificationbyLiabilityofMembers1)Companieslimitedbyshares.2)Companieslimitedbyguarantee.3)Acompanylimitedbyguaranteewithasharecapital.4)Anunlimitedcompany.5)No-liabilitycompany.,(2)ClassificationbyMembership1)Publiccompanies.2)Privatecompanies.(3)ClassificationbytheSizeoftheBusinessProprietarycompanyiseitherlargeorsmall.,4.CreationofCorporation(1)IncorporationProcedure1)Selectanameofthecompany.2)DrawupMemorandumofAssociation/ArticlesofIncorporation.3)Certificateofincorporation.4)Appointthedirectors.5)Completeandlodgetheapplicationform.,(2)NameandRegistrationNumberAnameisavailableifitdoesntclashwithanexistingcompanyname,orisnotincludedinthebusinessnamesregisteredorhasnotbeendeclaredbytheregulationstobeunacceptable.Inforeigncountries,thecompanyisnormallyrequiredauniquecompanynumber.Otherwisethecompanywillfacetothetaxpenalty.Thebusinessnumberisavailableforthepublicsearchingontheinternet.,(3)MemorandumofAssociationThememorandumofassociation(alsocalledarticlesofincorporationorthecertificateofincorporation)istheprimarydocument,andgenerallyregulatesthecompanysactivitieswiththeoutsideworld.Theby-laws(alsocalledarticlesofassociationinsomecountries)arethesecondarydocument,suchasproceduresforboardmeetingsandshareholdersmeeting.,(4)TaxCorporationshaveadoubletax.Bothcorporateprofitsandshareholderdividendsaretaxed,butcorporateprofitsaretaxedatalowerratethantheratesforindividuals.,5.CorporateFinancing(1)Stocks/SharesSharesnormallyhaveanominalorparvalue,whichisthelimitoftheshareholdersliabilitytocontributetothedebtsofthecompanyonaninsolventliquidation.Differentkindsofsharesofferdifferentrightstotheshareholders.Acompanymayissuebothordinarysharesandpreferenceshares.,Thetotalnumberofissuedsharesinacompanyissaidtorepresentitscapital.Sharesusuallyconfertheholderanumberofrights:1)Votingrights.2)Rightstodividendsdeclaredbythecompany.3)Rightstoanyreturnofcapitaleitheruponredemptionoftheshare,orupontheliquidationofthecompany.4)Preferentialrightstoparticipateinfutureshareissuesbythecompany.,(2)DebtSecurities（债券）Debtsecurities,suchasbondsordebentures,representthelongtermborrowingofmoneybyacompany.Interestpaymentsondebtsecuritiesareusuallyfixedonaspecifieddate.Debtsecuritiesareveryimportantsourcesofcapital.,6.CorporateManagement(1)DirectorsAcompanymusthaveatleastadirector.Thequalificationsofdirectorsareprovidedbythememorandumofassociationorby-lawsthatadirectormustbeashareholderorsomeotherqualifications.,(2)DirectorsDutiestoTheirCompany1)Dutytobeloyaltothecompany.Forthisduty,directorsareunder:a.Dutyofactinginbonafide.b.Dutyofexercisingpowersforproperpurpose.c.Dutyofretaintheirdiscretion.,d.Dutytoavoidactualorpotentialconflictofdutyandinterest.e.Transactionswiththecompany.f.Useofcorporateproperty,opportunity,orinformation.g.Competingwiththecompany.h.Diligence.i.Theunderstandingofthe“skill”.j.Relianceothers.,2)The“businessjudgment”rule.ThisruleisprovidedintheUScompanylaw.Generallythedutiesofthedirectorsareseveralandowedtothecompanyitself,nottoanyotherentity.Butinfuturetherearesomechangesaboutit.,IntheUK,theCompaniesAct2006requiresadirectorofaUKcompany“topromotethesuccessofthecompanyfor