Limited Liability Company in Slovakia: Current Problems Faced
Abstract
This article is focused on the Limited Liability Company (LLC), the most popular form of company in Slovakia, as a legal form for small and medium enterprises. The article analyses selected topics that are important for comparison and for establishing a better understanding of the Slovak regulation; these are mainly capital requirements and capital protection, bans on the return of investment contributions, management responsibility, the responsibility of the single or majority member, and rules on minority protection. The article also describes the current problems regarding the LLC regulation in Slovakia (restrictions on the company formation, transfer of business shares, piercing the corporate veil, de facto statutory body/ director.
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