What steps are necessary to establish a society?
July 4, 2022 | 40,00 EUR | answered by Otto König
Dear lawyer specialized in corporate law,
My name is Heike Winterstein and I am planning to establish a company. I already have some ideas for my business model and am determined to start my own company. However, I am unsure about the exact steps required to successfully establish a company.
Currently, I am still in the planning phase and have potential business partners and investors in mind. I want to make sure that I consider all legal aspects and do not overlook any important steps. I am aware that establishing a company involves various legal and bureaucratic hurdles and would like to clarify these in advance to avoid any complications.
My concern is that as a founder, I may not have sufficient knowledge in the field of corporate law and could therefore overlook important steps. That is why I am reaching out to you to get answers to my questions and ensure that I can establish my company correctly and professionally.
Therefore, my specific question to you is: What steps are necessary to establish a company? I would like to know which legal and bureaucratic steps I need to consider in order to successfully establish my company. Are there specific forms or documents that I need to fill out? What legal aspects should I pay particular attention to in order to minimize potential risks?
I thank you in advance for your support and look forward to your professional advice.
Sincerely,
Heike Winterstein
Dear Mrs. Winterstein,
Thank you for your interest in starting a company and for trusting in my expertise in the field of corporate law. It is commendable that you are seeking information about the legal and bureaucratic hurdles in advance to successfully establish your company. I will now explain in detail the necessary steps to start a company, as well as important legal aspects that you should consider.
The first step in starting a company is deciding on the legal form. In Germany, there are various legal forms to choose from, including GmbH, UG, AG, OHG, KG, and GbR. Depending on the nature of your business model and your individual needs, you should select the appropriate legal form for you. Each legal form has its own advantages and disadvantages, so it is advisable to seek advice from an experienced lawyer.
After choosing the suitable legal form, you will need to draft a company agreement. This agreement will determine the shareholders, share capital, management, and profit distribution, among other things. The company agreement is an important document as it forms the basis of the company and regulates the rights and obligations of the shareholders.
Furthermore, you must have the founding deed notarized. This deed will record the establishment of the company, the shareholders, share capital, and management. Notarization is legally required to ensure that the company's establishment is legally valid.
Additionally, if you have opted for a capital company like GmbH, you will need to deposit the share capital. The share capital serves as the financial foundation of the company and must be deposited into a special account before registration in the commercial register.
To legally establish your company, you must finally arrange for registration in the commercial register. The commercial register is the public directory where all registered companies are listed. Only after registration in the commercial register will your company be considered legally existent and operational.
Regarding potential risks, you should pay particular attention to liability. Different liability regulations may apply depending on the legal form. In a capital company like GmbH, shareholders usually only bear liability with their share capital, while in partnerships like GbR, shareholders may also be liable with their personal assets. Therefore, it is important to clearly regulate liability issues in the company agreement to minimize liability risks.
In summary, the key steps to starting a company are choosing the legal form, drafting the company agreement, notarizing the founding deed, depositing the share capital, and registering in the commercial register. By carefully following these steps and seeking advice in a timely manner, you can minimize potential risks and successfully establish your company.
I hope my explanations are helpful to you, and I am available for any further questions you may have. Good luck with your establishment!
Sincerely,
Otto König
