My thesis consists of two main parts. First part deals with major changes introduced by the Company Act 2014 and the New Civil Code 2014 to the regulation of the share in the Limited Liability Company. The aim of the first part is to analyse the most significant changes introduced by the Company Act 2014 and the New Civil Code 2014 and to present various arguments in favour of and against this new regulation. I have decided to compare the Czech regulation with the German regulation which has already introduced similar changes five years ago. The main contribution of this part is therefore not only to provide critical evaluation of the new regulation, but also to point out that in some situations we can draw inspiration from the German regulation. Second part focuses on the transfer of the share, agreement on the transfer of share and special ways in which the share can be transferred. My thesis is divided into four chapters. First (introductory) chapter defined the share generally, using its qualitative and quantitative aspects. Second chapter deals with the abovementioned changes introduced by the Company Act 2014 and the New Civil Code 2014, more specifically it deals with the fact that the New Civil Code 2014 distinguishes the share as a thing in the legal sense, the fact that the Company Act...

The purpose of my thesis is to analyse the legal regulation regarding the transfer of the business share in a limited liability company in the Czech Republic. I have chosen this topic because of a lack of its legal regulation on the one hand and controversy and topicality on the other hand. The study analyses relevant law, commentaries, books, articles and case law. Moreover, it also compares the current legal regulation with the new legal regulation represented by the new Civil Code and the Act on Commercial Corporations. The main contribution of this paper is in providing a critical perspective on the current legal regulation and also the comparison with the new one. The thesis is composed of five chapters, each of which deals with different issues connected with both the transfer of the business share and the agreement on the transfer of the business share and a comparison with the new regulation. Chapter One is introductory and examines the concept of the business share as a subject-matter of legal relations. Chapter Two is subdivided into nine main parts. Part One focuses on the concept of the transfer of the business share. Part Two analyses its transfer to an existing shareholder or to a third party. Part Three focuses on the duty of loyalty of the shareholder. Part Four is closely...

Share in a limited liability company as a subject of legal relations; equity certificate The master thesis analyses the issue of the transfer of a share in a limited liability company including the possibility to incorporate a share into an equity certificate. The main purpose of this study is to introduce in detail the different phases of the tranfer of a share, an equity certificate and draw attention to several interpretative problems related to the new law of business corporations. Besides the applicable law, which is purposefully subjected to the comparison with legal regulation before the recodification of private law, the work examines the legal literature, including periodicals, and still aplicable case law of the Czech courts. The thesis is divided into five chapters. The first chapter looks briefly at a share in a limited liability company and its definition as a subject of legal relations. The second chapter deals with the modes of the transfer of a share and the preconditions of its realization in the form of obtaining the relevant permissions. This section also outlines possible consequences of not giving the necessary consents with the transfer. The core of the third chapter represents the share transfer agreement, its formal and subject matter requirements. There are also mentioned...

The private limited liability company, as the most frequently used type of business corporation in the Czech Republic, has recently undergone significant changes concerning its legal regulations due to the recodification of private law. This thesis focuses on the share in the limited liability company and the equity instrument (the share certificate), by which the share can be represented, along with the transfer of the share. The treatises aims to identify interpretational disputes arising from the recently enacted civil and corporation codes and, while using resources available at the moment, attempts to adumbrate possible outcomes and solutions. The work itself is divided into five chapters. First chapter provides general description of the notion of the share in the limited liability company and defines its nature. Further, possible variations of issue of shares in the limited liability company such as issue of different classes of shares and the option of ownership of multiple shares in one company are examined. In the second chapter, the concept of the share as a thing in itself (personal property) and the selected implications of this concept are discussed. The focus is aimed on topics, which appear to be highly questionable. Third chapter introduces the institute of the equity instrument...

Depuis la réforme du droit des procédures collectives par la loi de sauvegarde des entreprises du 26 juillet 2005, deux régimes de cession aux conséquences juridiques dissemblables restent applicables lors des réalisations d’actifs en liquidation judiciaire. Le fonds de commerce, bien particulier à la définition lacunaire, présente la particularité d’être éligible tant à l’application du régime de la cession d’entreprise des articles L 642-1 et suivants du Code de Commerce, qu’à celle de la cession de biens isolés de l’article L 642-19 du Code de Commerce. Les éléments guidant la répartition des ensembles cédés sous l’un ou l’autre régime restent cependant à ce jour imprécis, compromettant la sécurité juridique des différents acteurs de la procédure. Suite à l’étude des causes théoriques et pratiques de cette confusion, des propositions de réforme de ces régimes peuvent être formulées afin d’offrir aux intervenants à la procédure, qu’ils soient parties à la cession, créanciers, ou salariés, une meilleure lisibilité de leurs droits et obligations / Since the reform of the collective procedures by the July 26, 2005 Companies backup Act, two regimes of sales, of dissimilar legal consequences, can be applied during the divestments of the assets that takes place in the final stages of the judicial liquidation. The goodwill, specific asset of lacunar definition, has the particularity to be eligible both for the application of the system of transfer of companies mentionned at the article L 642-1, to that of isolated assets divestment regime mentionned at the article article L 642-19 of the French Commercial Code. Elements guiding the distribution of sets sold under one or the other regime remain however to this day unclear, compromising the legal security of the different actors in the process. Following the study of the theory and practice of this confusion causes, proposals for reform of these regimes can be formulated to provide to the participants in the proceedings, may they be parties to the sales, creditors or employees, a better readability of their rights and obligations

This diploma thesis focuses on tax aspects of multinational companies. In the first part there is an analysis of EU Council Directive (relating multinational companies) compared with The Income Tax Law. Practical application of some of the above mentioned Directives is shown in some examples. The next part deals with very discussed and actual problem of multinational companies - transfer pricing. This thesis analyses particular documents for this area. The aim of this diploma paper is to create the copmlex thesis about taxation of multinational companies.

The thesis is focused on holding companies legislation in the Czech Republic and related issue of tax optimization in the international business environment. First aim of this thesis is to map control and influence relations and therefrom arising legal obligations within Tescoma Group. Second aim is to explore Tescoma Group from the point of view of tax optimization and to compare advantages and disadvantages of alternative structures of the group.

The main purpose of the thesis is to explore the specifics of the financial management of holdings companies in the Czech Republic with an emphasis on the area of financial management. However, the author assumes that persistent reasons for holding creation is using of synergy effects consisting mainly of centralized management of cash flows to minimize the cost of capital and minimizing the risk of an individual investor who actively makes managerial functions in view guarantees of individual companies. It was found the lack of a comprehensive and systematic approach for a qualitative research. A total of 15 holding companies was use for the qualitative research. The outcome gives many answers concerning the specifics of the financial management of the holdings companies. It seems guarantee, minimizing cost of capital and cash management are key points. The synergistic effect of the holding companies can be used when transferring financial means between companies holding. The impact of the transfer of available financial means was simulated for holding No. 13. It was clearly shown to decrease WACC at one of the companies within the holding. It was found that the subsidiaries, which effectively control the cash flow, maintain a low level of Cash Ratio and Net Working Capital. It was also found that the subsidiaries that manage cash flow effectively, achieve higher ROA. The same assumption was not found in the parent companies. The research question that subsidiaries, which effectively control the cash flow, use financing through bank loans to a lesser extent, was partially confirmed.

L’UES constitue un outil de recomposition du cadre de l’entreprise. Le recours à l’UES permet en effetde considérer que plusieurs entités juridiquement distinctes constituent, en droit du travail, uneentreprise unique. La reconnaissance de l’UES facilite alors la mise en oeuvre de normes déterminéespar le juge ou le législateur, parmi lesquelles figurent en premier lieu celles relatives à la représentationcollective du personnel. L’évolution de son utilisation a façonné son périmètre en un cadre d’exercicedes droits collectifs des salariés. Toutefois, si le recours à l’UES correspond à la recherche de l’entrepriseen droit du travail, son régime demeure à l’état de « construit jurisprudentiel » élaboré à des fins utiles.Il laisse un sentiment d’inachevé. Les conséquences de la reconnaissance d’une UES ne peuventatteindre les relations individuelles de travail. Les salariés demeurent contractuellement liés à leursemployeurs respectifs. La constatation d’un pouvoir de direction unique entre les entités juridiques nepermet pas considérer l’UES comme étant l’employeur unique de l’ensemble des salariés, ni même queses membres sont autant de coemployeurs. L’absence de personnalité morale reconnue à ce type degroupement représente incontestablement une limite dans la construction d’un régime juridique. Lessolutions applicables dans un groupe d’entreprises peuvent également l’être dans l’UES. Cependant,elles ne représentent que des alternatives limitées à l’attribution de la personnalité morale. Or, dans lecadre de la théorie de la réalité de la personne morale, il apparaît que l’UES pourrait être considéréecomme telle. La reconnaissance de la personnalité morale aurait pour effet de rendre solidairementresponsables ses membres à l’égard de l’emploi des salariés qui contribuent au déploiement de l’activitééconomique dans ce périmètre. / UES constitutes a tool used to recompose the framework of the company. UES permits to consider thatseveral legally distinct entities constitute, in fact, a unique company. The recognition of an UESfacilitates the application of norms determined by the judge or the legislator, and especially normsrelated to collective representation. The evolution of its use has shaped its perimeter in a framework forthe exercise of the employees’ collective rights. However, if the UES corresponds in the search of thecompany in labor law, its regime stays at the state of "built case law" developed for useful purposes. Itleaves a feeling of unfinished. The consequences of the UES recognition cannot reach the individualworking relations. The employees remain contractually bound to their respective employers. Theobservation of a unique direction power between the legal entities doesn't permit to consider UES asbeing the unique employer of the set of the employees, nor even that its members are as much coemployers.The absence of moral personality of this type of grouping represents incontestably a limit inthe construction of its legal regime. The applicable solutions in a group of companies can also beapplicable in the UES. However, they only represent alternatives limited to the assignment of the moralpersonality. However, in the setting of the theory of the reality of the moral person, it appears that UEScould be considered like such. The recognition of the moral personality would have the effect of makingjointly responsible its members towards the employment of the employees who contribute to thedeployment of the economic activity in this perimeter.