Abstract
In Europe, as elsewhere, companies have traditionally had their roots in the sovereign States. In each country company law has developed in its own way and consequently companies incorporated under different national laws often have less in common than one would be inclined to think. The differences between national company laws may hamper a company’s dealings with foreign nationals and discourage them from purchasing its shares. Almost all companies are fettered by the law under which they are incorporated and this may seriously affect their international mobility; they find it virtually impossible to transfer their seat to another country or to merge with foreign companies and in some cases they even experience difficulty in being recognized abroad. Although these impediments have obviously not prevented the company from being the major vehicle for international business transactions, it cannot be denied that differences in company law from one country to another may cause problems or at least cost legal fees.
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Notes
Some publications in English are: G. Morse, European Law Review 1977, pp. 126-132, C.M. Schmitthoff, 15 CML Rev. 1978, pp. 43–54. J. Temple Lang, The Irish Jurist 1976, pp. 37-58, F. Woolridge, Acta Juridica 1978, pp. 334-345, and the UK Department of Trade, Implementation of the Second EEC Directive on Company Law, An Explanatory and Consultative note (1977). Many British publications on the Companies Act 1980, which implements the Second Directive, also deal with the Directive, e.g. the long series of articles by Diane M. Hare in The Solicitors’ Journal, July-September 1980. See also Stein, referred to in note 7, especially on the history of this Directive.
Some articles on the draft are: John Temple Lang, The Irish Jurist 1972, p. 319; J.E. Hurst, Legal Issues of European Integration 1974/1, p. 76; and Clive M. Schmitthoff, Internationaland Comparative Law Quarterly 1976, p. 611.
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© 1982 Springer Science+Business Media Dordrecht
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Storm, P.M. (1982). European Company Law. In: Ellis, M.J., Storm, P.M. (eds) Business Law in Europe. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-4358-7_2
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DOI: https://doi.org/10.1007/978-94-017-4358-7_2
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