El presente artículo científico tiene como objetivo mostrar aquellos fundamentos en torno a la posibilidad de modificar los artículos 4° y derogación del inciso 6 del artículo 407° de nuestra Ley General de Sociedades. En la investigación se utilizó la metodología cualitativa, puesto que, se realizó un análisis documental, utilizando la recolección de datos hallados en fuentes virtuales bibliográficas, ya sean revistas académicas, científicas, libros, artículos jurídicos y cualquier otro tipo de materiales escritos como tesis y periódicos, estos orientados a la búsqueda de resultados para el problema de investigación planteado. Entre los resultados se obtuvo que si bien la norma societaria menciona que para conformar una sociedad se requiere como mínimo de dos personas cuya determinación será la pluralidad de socios, y, al perder esta condición se convierte en sobrevenida, se cumpliría con ello la aceptación de la sociedad unipersonal, restando aquel carácter importante de la pluralidad societaria y promoviendo la modificación de los artículos ya mencionados. / This scientific article aims to show those fundamentals around the possibility of modifying articles 4 ° and repeal of paragraph 6 of article 407 ° of our General Law of Companies. In the research, the qualitative methodology was used, since a documentary analysis was carried out, using the collection of data found in virtual bibliographic sources, whether academic and scientific journals, books, legal articles and any other type of written materials such as theses and newspapers, these oriented to the search for results for the research problem posed. Among the results it was obtained that although the corporate norm mentions that to form a company requires at least two people whose determination will be the plurality of partners, and, when losing this condition becomes supervened, the acceptance of the sole proprietorship would be fulfilled, subtracting that important character of the corporate plurality and promoting the modification of the aforementioned articles.

En droits français et italien des sociétés il est difficile d'affirmer l'existence "d'un" droit à réparation en particulier lorsqu'il s'agit du préjudice social, sa réparation étant freinée par le manque d'effectivité de l'action sociale, et du préjudice individuel de l'associé, sa reconnaissance au fond étant limitée. Il est également difficile pour les victimes d'affirmer l'existence "du" droit à réparation, en raison d' obstacles de nature procédurale et financière rencontrés dans la mise en oeuvre de leur droit jusqu'à l'éventuelle condamnation. Les difficultés rencontrées par les victimes révèlent le manque d'effectivité de la réparation des dommages causés par le dirigeant et, par là même, le manque d'effectivité de la responsabilité personnelle de ce dernier. L'étude de certaines dispositions nouvelles des deux pays, en particulier du droit italien, nous invite cependant à réfléchir sur les perspectives d'évolutions. / .

Thesis (LLM (Mercantile Law))--University of Stellenbosch, 2009. / The worldwide increase of corporate failures on the scale of Enron and WorldCom has sparked a renewed international trend of corporate governance review. With the external company auditor blamed at least in part for many corporate failures, corporate governance reform also necessitates a review of the statutory regulation of the company auditor. In particular, the lack of auditor independence when auditing clients has been under the legislator’s spotlight. The problems associated with unregulated or poorly regulated auditors are well illustrated by the activities of auditing giant Arthur Andersen. In the US, the Sarbanes-Oxley Act has been promulgated in reaction to corporate failures, imposing many new legislative restrictions on the auditor. The UK has a more tempered, selfregulatory approach. South Africa, following international trends with its recently promulgated Auditing Profession Act and Corporate Laws Amendment Act, has also greatly increased the regulation of auditor independence. The question is now whether these new restrictions in the wake of corporate failures have been the right approach with which to prevent future failures and to provide adequate protection to shareholders. Although the general legislative increase in auditor awareness is welcomed, the efficacy of several provisions in South African legislation can be questioned. Widespread reform has taken place in the appointment and remuneration of the auditor, which now has to be independently determined by the audit committee. In particular, South Africa’s new regulation of non-audit services, and the lack of refined regulation on compulsory auditor rotation as well as the cross-employment of auditors by clients, needs a critical discussion. It is submitted that the discretion of a well-regulated audit committee, combined with increased disclosure and transparency, should be enough to regulate most of the key aspects of auditor independence. Care should be taken to not overlegislate in haste to reform. South Africa needs a flexible and customised approach in this regard.

Aujourd’hui, le droit français permet aux professions libérales et notamment aux médecins de créer des sociétés et d’exercer en société la médecine. Le recours au droit des sociétés constitue une véritable révolution dans la pratique de la médecine libérale. L’exercice en société apporte d’ailleurs aux médecins de nombreux avantages. Mais lorsqu’ils envisagent de constituer une société, ils se posent légitimement la question de savoir quelles seront les conséquences de ce nouveau mode d’exercice sur leur propre clientèle. L’exercice en société semble constituer un instrument qui permet aux médecins d’exercer une certaine influence et emprise sur leur clientèle. Cet instrument s’avère donc très utile pour le professionnel libéral et notamment le médecin puisque la clientèle constitue leur unique source de revenus et de richesse. En effet, ce mode d’exercice leur permet, tout d’abord, de transmettre leur clientèle dans le cadre de la société et leur permet ensuite de la fidéliser à long terme dans la mesure où il conduit à améliorer la pratique de la médecine libérale. Cette influence sur la clientèle constitue probablement l’une des raisons du succès de l’exercice en société des médecins / Today, the French law permits liberal professions and especially doctors to create different types of companies. It means a real revolution in the way of practising medicine. Corporate law brings a lot of advantages to doctors. But, when they decide to create a company, they need to know what the repercussions will be for their own patients. Companies seem to be an instrument for doctors to exercise their influence on their patients. Working within a company is useful for them because having a regular practice warrants them a safer income. As a matter of fact, being structured into companies permits them to bring their patients and gain their loyalty as both the quality and the functioning of medicine are improved. It’s one of the reasons why such company creation is successful

Groups of companies offer considerable economic and practical advantages over other forms of business organizations. However, the phenomenon creates a long list of problems in terms of antitrust law, tax law, labour law, corporate law, and in the case of international companies, conflict of laws. National laws do not provide a complete solution to these problems because groups of companies are still governed by traditional corporate law, which is designed to govern single independent companies. On the other hand, harmonization of the law of corporate groups across Common legal systems is neither feasible not advisable. The most important problem which has not yet been completely solved by Common law systems is the liability of groups of companies for the debts of their subsidiaries. This has been described as "one of the great unsolved problems of modern company law". The present study aims to analyse the solutions provided by Common law systems to this problem and evaluate if they provide a solid settlement or whether further safeguards are needed for those dealing with corporate groups, namely minority shareholders and outsiders including creditors. By using a comparative approach with the Islamic law system, the study evaluates if the Common law solutions are also applicable in such a religious system or whether, due to its unique character Islamic law needs to create its own solution. This comparative approach assesses the possibilities of harmonization between Common law and Islamic law systems and promotes the Islamisation of modern laws in Islamic countries.

As medidas defensivas contra tomadas de controle constituem o núcleo de estudo desta dissertação. São instrumentos jurídicos adotados principalmente por companhias abertas com dispersão acionária, visando à proteção contra uma eventual tentativa de tomada de controle. O assunto é de especial interesse no atual momento do mercado de capitais brasileiro, que vem apresentando significativo desenvolvimento nos últimos anos e propiciando meios para a proliferação no Brasil de companhias abertas com dispersão acionária. O estudo do tema é feito concomitantemente à crescente utilização no Brasil de proteções contra tomadas de controle, inclusive por companhias não dotadas de dispersão acionária. Algumas medidas defensivas são inspiradas na experiência prática de outros países e vêm sendo transplantadas para o Brasil sem a adequada harmonização às características do nosso regime jurídico. Este trabalho analisa os efeitos da utilização de medidas defensivas e, na medida do possível, a admissibilidade da adoção de determinadas defesas no Brasil. São também abordados os balizamentos para a postura da administração de companhias diante de tentativas de tomada de controle. São estudados os padrões de tratamento do tema nos principais modelos existentes na experiência internacional, a fim de fornecer subsídios para a criação de uma identidade brasileira no tratamento das defesas contra tentativas de tomada de controle. / The defensive anti-takeover measures constitute the core area of study in this dissertation. These are legal devices adopted mainly by publicly-held companies with widespread ownership dispersion, aiming at protection against an eventual takeover attempt. The subject is of special interest at the current moment of the Brazilian capital markets, which have shown significant development in the recent years, providing means for the proliferation in Brazil of publicly-held companies with widespread ownership dispersion. The study of the issue is done concomitantly with the increase of utilization in Brazil of anti-takeover protections, including by companies without widespread ownership dispersion. Some defensive measures are inspired by the practical experience of other countries, being transplanted to Brazil without the proper harmonization with the characteristics of our own legal system. This work analyzes the effects of the utilization of defensive measures and, to the extent possible, the admissibility of adoption of certain defenses in Brazil. The boundaries for the behavior of the management of companies under takeover attempts are also approached. The patterns for the treatment of this issue in the main existing models in foreign experience are studied, so as to provide subsidies to the creation of a Brazilian identity in the treatment of the defenses against takeover attempts.

This thesis examines responses to the problem of stock market short-termism ('SMST'). SMST is defined as investors preferring short-term financial returns over potentially more profitable longer-term investment opportunities. Such short-termism may result in serious real-world consequences. Company executives appear to respond to short-term pressures in ways that jeopardize the long-term sustainability of listed companies negatively impacting investors and other stakeholders including employees, customers and the community at large. This thesis provides an original contribution to the academic literature via an in-depth examination of all significant regulatory and financial industry efforts meant to reform SMST in major capital markets after the global financial crisis of 2007-2009. I hypothesize that the extensive discussion of the SMST issue has generated substantial reforms. Based on an analysis of the implemented reforms, I reveal that the anticipated surge of SMST reform has not occurred. I then explore why the widespread SMST discussion has not resulted in greater reform efforts. This examination reveals the complex nature of the SMST problem and the evidentiary issues inherent in viably identifying and measuring the harms of SMST. However, I determine that there is probable cause for concern justifying SMST reform measures. Further, I conclude that SMST issues arise because investors are biased towards short-term returns when calculating risk. This bias is evident in share pricing, meaning that share prices are not a reliable indicator of fundamental corporate value. Based on this conclusion, an original dual pathway for SMST reform is proposed. This dual pathway indicates that SMST reform measures must either: (1) reduce the actual or perceived excessive discounting of future returns by investors (i.e. make share prices better reflective of long-term value); or (2) cut-off the transmission mechanisms of SMST into the listed company (i.e. sever the link between share prices and corporate decision-making). Assessing the reforms against this dual pathway reveals that few of the reforms are conceptually effective. Of the few reforms that are conceptually effective, most are relatively 'light' touch. A 'light' touch approach may not be problematic, however, as such measures are easier to implement than 'hard' law. In the case of regulatory reforms, a 'light' touch approach provides scope for flexibility to minimize the many potential harms associated with 'hard' law measures. Consequently, this thesis concludes that SMST reform is more likely to occur if reformers pursue a 'lighter' touch approach meant to reduce excessive discounting of future returns and 'nudge' capital markets away from their harmful short-termism focus.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2015-10-26T10:43:14Z No. of bitstreams: 1 Thiago Beiler dos Santos Breyer_.pdf: 2064624 bytes, checksum: 75178b365c1d71570452bfc09234913c (MD5) / Made available in DSpace on 2015-10-26T10:43:14Z (GMT). No. of bitstreams: 1 Thiago Beiler dos Santos Breyer_.pdf: 2064624 bytes, checksum: 75178b365c1d71570452bfc09234913c (MD5) Previous issue date: 2015-05-18 / Nenhuma / As transformações empresariais vividas pelas empresas nos últimos anos chegaram ao mundo jurídico com diversos autores em artigos e publicações referindo-se e ao mercado jurídico em transformação, em especial no que se refere à Advocacia Empresarial. Dentre os diversos motivos para esta transformação, apresentam-se a mudança em sua gestão e posicionamento estratégico decorrentes de fatores mercadológicos, tais como tecnologia, sócio econômico, financeiro e os efeitos próprios da globalização. Observa-se, no entanto, que se as organizações empresariais evoluíram e se aperfeiçoaram administrativa e estrategicamente, o mesmo não se podendo dizer da advocacia empresarial, quer por muitos anos permaneceu inerte em sua estratégia, gestão e organização administrativa. Ocorre que a partir de determinado momento, as empresas que, por necessidade, interesse em crescimento ou competitividade vieram a se profissionalizar, passaram a exigir o mesmo de seus fornecedores, dentre eles os escritórios de advocacia empresarial Por tais razões e pelo crescente número de advogados e sociedades de advogados empresariais, se faz presente à advocacia empresarial uma estratégia clara e oportuna e voltada às características da sua indústria, qual seja, a prestação de serviços tendo o conhecimento como elemento precípuo de sua atuação. A Visão Baseada em Recursos (‘VBR’) vem ao encontro desta necessidade estratégica da advocacia empresarial, ao focar a sua estratégia nos recursos internos de uma organização empresarial como elemento norteador estratégico de sua teoria, indo ao encontro dos anseios e necessidades da advocacia empresarial. O presente estudo analisa a estratégia da advocacia empresarial a partir dos norteadores advindos da literatura de campo, Pessoas, Tecnologia, Organização, Preço e Geografia que, alinhados aos conceitos e recursos estratégicos da VBR como referência central para delinear a direção estratégica de um escritório de advocacia empresarial. / Business transformations experienced by businesses in recent years reached the legal world. And several authors in articles and publications refer to the legal market in transformation, particularly in relation to the field of Business and Corporate Law. Among the many reasons for this transformation on Business and Corporate Law, it can be presented the changes in management and strategic positioning due to market factors, such as technology, economic, financial partner and the effects of globalization itself. It is observed, however, that even though business organizations have evolved and improved administrative and strategically, the same can not be said of business and corporate law, taking in account that for many years it remained inert in its strategy, management and administrative organization. It happens that after a certain time, the companies that, by necessity, interest in growth or competitiveness came to professionalize themselves, and began to demand the same of its suppliers, including the Corporate Law Firms. For all this and the growing numbers of lawyers and corporate business lawyers, it is necessary to business law professionals a clear and timely strategy, geared and focused to the characteristics of their industry, namely, the provision of services taking knowledge as essential element of its performance. The Resource Based View ('VBR') meets this strategic need of business law, to force its strategy on internal resources of a business organization as an element and guidance strategy of its theory, meeting the wishes and needs of law business. This study analyzes the business advocacy strategy based on the concepts and VBR resources as a central strategic guidance starting from the this guidance coming from the field of literature, People, Technology, Organization, price and geography that aligned with the concepts and strategic resources of VBR as a central reference to outline the strategic direction of a business law firm

Made available in DSpace on 2016-04-26T20:21:04Z (GMT). No. of bitstreams: 1 Vitor Martins Flores.pdf: 1799128 bytes, checksum: 693a95ff3a84a83754c0575e6c22d846 (MD5) Previous issue date: 2012-06-06 / The purpose of this study is to investigate and demonstrate scientific a method for assessing the legitimacy of the modification of the legal concept of profits , as defined by corporate law, for corporate income tax purposes. By proposing objective parameters for assessing the limits which the tax legislation may modify the concept of profits, we construct a useful tool for endorse or refuse such modifications. For achieving this goal, the study investigates how the interpretation of tax law interacts with the legal presumptions and legal fictions / O objetivo deste trabalho é o de investigar e demonstrar cientificamente um método para avaliar a legitimidade jurídica da atribuição de efeitos quantitativos ao lucro contábil-societário pela legislação do Imposto sobre a Renda, para fins de apuração do novo lucro para efeitos tributários, o lucro real . Com a definição de parâmetros objetivos para avaliar os limites em que a legislação fiscal pode partir de um conceito ou um instituto de direito privado para atribuir-lhe efeitos que lhes altere a substância, espera-se criar um instrumento de justificação dessas modificações quando legítimas ou para a sua oposição quando contrárias à Constituição e a outros princípios legais positivados. Para atingir esse objetivo, o estudo adota como método a investigação sobre como se relacionam a interpretação do direito tributário com as presunções e ficções jurídicas, de modo a verificar os limites desses efeitos. Ao final, como resultado, propõe-se um método para avaliar a justificação ou refutação dessas tais modificações

La globalisation de l’économie a fortement contribué à la constitution de groupes de sociétés dans le cercle national et au-delà. La reconnaissance de l’accord collectif de groupe par le juge, puis par la loi du 4 mai 2004, a permis une adaptation partielle du droit du travail français à cette réalité. Instrument d’harmonisation des normes sociales en vigueur dans les diverses entités composant le groupe, il contribue à forger son identité. Même à ne considérer que les accords conclus dans le cadre national, maintes difficultés subsistent, qu’il s’agisse de la conclusion de l’accord (quel périmètre ? quelles parties ? quel contenu ?...) ou de son régime juridique (quelle force normative ? quelle portée ?...). Au-delà du cercle national, les accords de dimension transnationale emportent un lot d’interrogations plus vives encore, tant font défaut les éléments permettant d’en fixer, de manière sûre, le régime juridique. Des réponses doivent être proposées, dans le respect de la liberté et de l’autonomie des partenaires sociaux. / The globalisation of the economy has greatly contributed to the creation of groups of companies both nationally and internationally. The recognition of the group collective agreement by the judge, followed by the law of May 4th, 2004, has effected a partial adaption of French employment and labour law to its reality. In harmonising the employment standards and methodology enforced in the various entities composing the group, it has contributed to forging its identity. Even in considering only the agreements signed in France, many difficulties remain, whether about the conclusion of the agreement (scope? parties? content?) or its legal framework (enforcement and impact?). More so than strictly-national agreements, transnational ones give rise to complex questions, due to the difficulty in clearly defining their legal framework. Proposals herein are made in respect to the liberty and autonomy of the social partners.