This Master's thesis is focused on the analysis of the trading company Water Element ltd. The aim of my thesis is to analyze this company and propose appropriate solution for improving company's market situation and company's efficiency. Analysis used in this thesis are internal and external environment analysis, SLEPTE analysis, fundamental and financial analysis, Porter's model and finally SWOT analysis. Thesis begins with theoretical section, where the applied analysis are described. This section is followed by practical part and the thesis results are proposals to improve the overall situation of trading company Water Element ltd.

This thesis deals with tax implications. It is focused on the evaluation of the options of transferring to another business form in terms of tax burden. By processing the overall tax burden in various business forms will be proposed an option, which would bet he best for husbands Houfek in terms of tax. There will be also taken into account tax optimization using international revenues that husbands could arrives in connection with business development.

The master´s thesis deals with the creation of a business model and a business plan for founding a small company making salty desserts in Brno. The first part of this thesis contains information used for creation of the business plan. Second part describes market research. The last part is focused on business plan itself created by application of all the information.

La tesi affronta il tema del capitale sociale e della sua funzione all’interno del sistema delle società di capitali partendo dalle innovazioni legislative che hanno interessato la disciplina della s.r.l. in Europa. Nel primo capitolo vengono dipanate alcune questioni teoriche e applicative che hanno afflitto la prima esegesi delle nuove forme di patrimonializzazione delle s.r.l. Nel secondo capitolo sono discusse le tesi tradizionali sul capitale sociale e sono esposte le ragioni per cui esse non paiono idonee a risolvere le questioni organizzative e capitalistiche poste dall’istituto. Nel terzo capitolo è esposta la tesi centrale: il capitale sociale esprime un concetto normativo che svolge una funzione di governo societario, volto a risolvere la questione organizzativo-corporativa (rapporti interorganici in materia di scelte finanziarie) e riafferma l’impostazione proprietaria degli ordinamenti continentali. Si illustra una lettura unitaria interna alla classe delle società di capitali e il collegamento con la limitazione di responsabilità. Sono esaminati gli istituti del diritto societario finalizzati ad assicurare garanzia ed efficienza, profili non sempre convergenti. Si sostiene la necessità di una rule, ex ante, ad effetto reale, rispetto ai rimedi basati sugli standard e di carattere obbligatorio, individuando un possibile strumento di composizione degli interessi in gioco nelle nuove tutele. / The dissertation deals with legal capital and its function within the system of the Italian civil code rules for corporations. These rules have been recently amended both in Italy and in other European Countries, in particular with respect to the non-stock company forms (limited liability company, Italian s.r.l.). The first Chapter addresses some theoretical and practical issues raised by the early scholarly works that have analyzed the new financing schemes for the Italian s.r.l. The second Chapter discusses the traditional approaches to legal capital and provides evidence that such approaches prove inadequate to resolve the corporate and capitalistic questions that legal capital poses. The third Chapter draws the key argument of the dissertation: legal capital is a rule that fulfills corporate governance goals. It allocates powers and responsibilities regarding the financial structure of the firm and reaffirms the proprietary, shareholder oriented, European approach. This is a typical feature of all corporations, public stock corporations and private close corporations, and stems from limited liability. Further, the dissertation compares the creditor protection rules against the value maximization principle. A rule-based, ex ante approach appears more desirable and a potentially effective and flexible legal strategy can be found in the new legal reserve.

The topic of Limited Liability Company is a popular issue among the professional public due to the fact that Limited Liability Company belongs to the most favourite and the most widespread companies. This thesis comprehensively explains duties of members of Limited Liability Company in terms of Business Corporations Act and, where appropriate, compares them with those contained in the Commercial Code. After the brief discourse about Limited Liability Company, its nature and its position among the business corporations, the thesis provides characteristics of a share with emphasis on its qualitative aspect. In the second chapter the schemes of duties of members in works of various authors are first of all compared and critically assessed, and subsequently the own division of duties of members is created. A criterion for the division of duties is the fact, whether they are governed by general or special regulation and in the latter whether the duties arise on the basis of the act, or the Memorandum of Association. The characteristics of duties itself is included in the third to sixth chapters, which successively explain the duty of loyalty, the contributory duty, the liability duty, the duty of additional contribution, the duty of personal participation on a company, the duty to contribute to the...

This study aims to explore how individuals who are operating Swedish elite football clubs manage the tension between non-profit and commercial logics, and whether organizational form is important when managing them. The respondents in this study are individuals with positions at the very highest organizational level, and predetermined themes that concern the tension within Swedish elite football were used in the design of the interview guide. The results were then analysed from a new institutional perspective. The outcome showed that elite football clubs tend to use similar strategies when managing the logics regardless of organizational form. / Denna studie ämnar undersöka hur individer som är verksamma inom svenska elitfotbollsföreningar hanterar spänningen mellan ideella och kommersiella logiker och om organisationsform har betydelse för hanteringen av dem. Respondenterna i denna studie är individer med befattningar på allra högsta organisatoriska nivå och förutbestämda teman som berör spänningen inom svensk elitfotboll användes vid utformandet av intervjuguiden. Resultaten analyserades sedan ur ett nyinstitutionellt perspektiv. Utfallet visade att elitfotbollsföreningar tenderar att använda likartade strategier vid hanteringen av logikerna oberoende av organisationsform.

Milan Kostohryz Piercing the Corporate Veil - Selected Issues in International Comparison Abstract The main purpose of the thesis is to give recommendation for possible application of the piercing doctrine in the Czech Republic. Secondary purposes are (i) analysis of effects caused by disregarding the principles of limited liability and separate legal personality because of piercing and (ii) detailed description of approaches to the piercing issue in selected legal systems (USA, UK and Germany). The thesis starts with some terminological issues; it introduces the possible Czech equivalents of the notion "piercing the corporate veil" and explains that it can have slightly different meaning depending on the individual author. The differences stem especially from the questions whether piercing negates only the principle of limited liability or also the principle of separate personality; whether so called inner piercing (Innenhaftung) shall be part of the doctrine and whether the piercing doctrine shall be regarded as product of case-law only. Also some special forms of piercing (reverse piercing, lateral piercing and insider piercing) are introduced. The third chapter analyses the relationship between the piercing doctrine and the principles of limited liability and separate legal personality. In particular it...

Este trabalho propõe-se a estudar, mediante abordagem teórica e prática, o regime jurídico das debêntures, tendo em vista as recentes alterações introduzidas pela Lei nº 12.431, de 24 de junho de 2011, que promoveu mudanças significativas em sua disciplina, bem como examinar os problemas e questões atuais das debêntures em um contexto evolutivo da doutrina e dos casos práticos que lhe são submetidos à análise, tendo em vista o uso cada vez mais frequente desse mecanismo de financiamento das sociedades. Busca-se, também, examinar o funcionamento do mercado de debêntures e as novas propostas para incentivar a circulação dos títulos de dívida. Dentre as questões mais controvertidas a serem estudadas neste trabalho, destacam-se as seguintes: (i) evolução da natureza jurídica do instituto, em que as debêntures são vistas como títulos de dívida pertencentes à categoria dos valores mobiliários; (ii) criação do novo mercado de debêntures, como avanço à proposta do Novo Mercado de Renda Fixa; (iii) possibilidade de emissão de debêntures por sociedades limitadas e cooperativas, em razão da ausência de vedação legal e da existência de normas que lhe dão suporte jurídico; (iv) realização de negócios jurídicos com debêntures que vão além da sua função econômica de financiamento da empresa; (v) existência da organização dos debenturistas, em complemento à ideia de comunhão de interesses, tendo em vista o seu caráter orgânico; e, por fim, (vi) se os deveres fiduciários dos administradores se voltariam também aos interesses dos debenturistas, como credores especiais da sociedade emitente. / This work aims to study, through a theoretical and practical approach, the legal system of debentures in view of the recent changes introduced by Law No. 1431, of June 24, 2011, affecting significantly their discipline, and also to examine their current problems and issues within the evolutionary context of the doctrine and the case studies that are submitted to analysis, since the use of this financing mechanism by companies has been increasingly frequent. It also seeks to examine the functioning of the debenture market and the new proposals to stimulate the circulation of debt bonds. Amongst the most controversial issues to be studied in this work, the following are highlighted: (i) the evolution of the legal nature of this institute, in which debentures are seen as debt notes pertaining to the category of securities; (ii) the creation of a new debenture market as an advancement to the proposal of the New Fixed Income Market; (iii) the possibility of limited partnerships and cooperatives issuing debentures in view of the absence of a legal prohibition and the existence of norms that give legal support to it; (iv) the consummation of legal transactions with debentures that go beyond their economic function of business financing; (v) the existence of a debenture holder organization as a complement to the idea of pooling of interests, in view of its organic character; and, finally, (vi) whether the fiduciary duties of the administrators would also accommodate the interests of the debenture holders, while in their position of special creditors to the issuing business.

Made available in DSpace on 2016-04-26T20:24:18Z (GMT). No. of bitstreams: 1 Daniel Bushatsky.pdf: 1380757 bytes, checksum: 47bccc0b95080221650937333369ec7e (MD5) Previous issue date: 2016-03-09 / This doctoral thesis presents the principle of negotiating security, relating it to corporate law. For such, the principles of rules are differentiated, exposing the basic principles of corporate law, emphasizing that it is due to private autonomy that the partners subject themselves to the will of the majority in corporate resolutions, just as decisions made should follow the interests of the corporation. After this, the principle of negotiating security was conceptualized, which is sustained over 4 (four) pillars: objective good faith (loyalty), confidence theory, principle of correction (inspired by the Italian law) and private autonomy. It was asserted that loyalty, reliability, correction and subjective and objective autonomy jointly studied provide the base value for the interpretation of the Law and Legal Affairs, bringing security to corporate relations, within the legal framework of trade, creating the standard of behavior expected from all those involved in trade. By combining the principle of negotiating security with the principle of corporate preservation, it can be demonstrated how conflicts of interest involving the company, partners and administrators should be resolved. Following, first an overview of business risk and the multiple facets of justice, then a review on the legal protection of private investment, arriving at the conclusion that it must comply with its corporate function, in order to expose the main aspects of the business corporation. In order to prove the understanding, doctrinal passages were presented, recent decisions of the Brazilian courts on corporate law were analyzed, as well as how theoretical examples were used as illustration. Finally, the paper emphasizes that the principle of negotiating security must be applied in corporate law, protecting society, partners, administrators, and, thus, helping both the economic and the social development / Na presente tese de doutorado apresenta-se o princípio da segurança negocial relacionando-o com o direito societário. Para tanto, diferenciam-se os princípios das regras, expondo, depois, os princípios basilares do direito societário, destacando que é graças à autonomia privada que os sócios se sujeitam à vontade da maioria nas deliberações sociais, assim como as tomadas de decisões devem seguir o interesse da sociedade. Após, conceituou-se o princípio da segurança negocial sustentando-o em 4 (quatro) pilares: boa-fé objetiva (lealdade), teoria da confiança, princípio da correção (inspirado no direito italiano) e autonomia privada. Asseverou-se que lealdade, confiança, correção e a autonomia subjetiva e objetiva estudadas conjuntamente trazem o valor base para a interpretação da Lei e dos negócios jurídicos, trazendo segurança às relações sociais, dentro do regime jurídico comercial, criando o padrão de comportamento esperado de todos os envolvidos no comércio. Conjugando o princípio da segurança negocial com o princípio da preservação da empresa, demonstrou-se como os conflitos de interesses envolvendo sociedade, sócios e administradores devem ser resolvidos. Seguiu-se, primeiro com uma visão geral sobre o risco empresarial e as múltiplas facetas sobre justiça, depois realizando uma crítica sobre a proteção jurídica ao investimento privado, concluindo que este deve cumprir sua função social, para assim expor os principais aspectos da sociedade empresária. Para provar o entendimento, trouxeram-se passagens doutrinárias, analisaram-se recentes decisões dos tribunais brasileiros sobre direito societário assim como se utilizaram exemplos teóricos como ilustração. Por fim, ressaltamos que o princípio da segurança negocial deve ser aplicado no direito societário, protegendo sociedade, sócios, administradores, e, ajudando, consequentemente, no desenvolvimento econômico e social

Made available in DSpace on 2016-04-26T20:30:06Z (GMT). No. of bitstreams: 1 Fernanda Garcez Lopes de Souza.pdf: 766701 bytes, checksum: 3bcfa3c2cb40235d1ea5e5d5ea86af12 (MD5) Previous issue date: 2010-05-10 / This master dissertation is intended to spark the reader‟s interest how officers of joint-stock companies and of limited liability companies are legally classified. Are officers actual employees governed by labor law, do the concepts contained in the Consolidated Labor Laws apply to them, or are the officers legal personalities under the corporate law, so that in relation to them exclusively the terms of the laws that govern company activities must be observed? The reason for the approach of that topic lies in the need for the books of authority and precedents to position themselves regarding what position is held by the officer, in order to instruct companies to give those professionals the correct treatment and to set up guidelines for court decisions that nowadays are handed down without any legal backing. The main result obtained, in our opinion, was to spark the attention of the labor jurists regarding the existence of a legal personality that, as a rule, is not under the protection of the labor law, but subject to corporate law. With the extension of the material competence of the Labor Justice brought about by Constitutional Amendment nº 45/2004, the labor lawyers need to extend their point of view and accept the existence of other legal personalities that are not governed by the Consolidated Labor Laws, but are neither left out of the legal system. On the other hand, the labor law should remain alert towards the cases in which the corporate law is used only as a form of disguising a true employment relationship and defrauding the rights set forth by the Consolidated Labor Laws for subordinate employees / A presente dissertação de mestrado possui como objetivo despertar o interesse do leitor pela forma de regulamentação jurídica dos diretores das sociedades anônimas e limitadas. Seriam os diretores verdadeiros empregados regulados pelo direito do trabalho, aplicando-se lhes os preceitos contidos na Consolidação das Leis do Trabalho ou seriam os diretores figuras jurídicas próprias do direito societário, devendo ser observadas, em relação a eles, exclusivamente os termos das leis que regulam as atividades empresariais? A justificativa para a abordagem deste tema repousa no fato da necessidade de posicionamento, por parte da doutrina e jurisprudência, de qual a posição ocupada pelo do diretor, no intuito de orientar as empresas a outorgar o correto tratamento a tais profissionais, além de orientar as decisões judiciais que hoje são proferidas sem qualquer respaldo legal. O principal resultado obtido, a nosso ver, foi o de chamar a atenção dos juslaboralistas acerca da existência de uma figura que, em regra, não está albergada pela proteção do direito do trabalho e sim pelo direito societário. Com a ampliação da competência material da Justiça do Trabalho trazida pela Emenda Constitucional nº 45/2004, os operadores do direito do trabalho precisam ampliar seus pontos de vista e aceitar a existência de outras figuras jurídicas que não estão sob a égide da CLT e nem por isso cairão, necessariamente, na marginalidade. Por outro lado, o direito do trabalho deve continuar atento às hipóteses em que o direito societário é utilizado apenas como forma de mascarar uma verdadeira relação de emprego e fraudar a aplicação dos direitos consagrados pela CLT aos empregados subordinados