Although there are international conventions that rule intellectual property rights, Spain has recently included in its draft of the New Commercial Code important changes that will affect the Law of Competition and Industrial Property.
The reform of the companies act in Spain focuses on the urgency for listed companies to update their corporate governance systems and affects shareholders’ general meetings, director’s remuneration and board of directors among other. It came into force on the 1st January 2015.
The representation system for public limited companies in Spain is more open regarding parties that may act as proxies on behalf on shareholder, but the manner of representation only grants special powers of attorney for each meeting and not general powers of attorney. In contrast, the manner of representation is stricter than in public limited companies whereby the representation is a shareholder may be carried out by anybody.
The new Commercial code in Spain introduces certain changes in the pecuniary liability of owners of limited liability companies, the creditors’ meetings and the transfer of the company as a whole.
In Spain the Company Law establishes the regulations of shareholders meetings and their representation. Depending on the kind of company, it may be necessary to submit a proxy.
In Spain, shareholders are, for various reasons, increasingly unable to attend General Meetings. However, they may choose to be represented at such Meetings by a proxy. Representation of a shareholder …
The executive employment agreements in Spain must include in its terms the duration of the agreement as well as the payments and benefits for the executive. This type of contract may be beneficial for the employer as it allows the introduction of restrictions and limitations to the executive’s competitive activities after the termination of the contract.
The private international law proposes a series of possibilities about the regulation of hereditary titles related to foreign countries. It is worth noting that this is a very complex matter since it seeks to harmonize different legal systems.
The process for establishing a partnership requires a private contract, a public deed, a tax on property transfers on certified legal documents and a Spanish tax identification number. This is then implemented through various regional instruments e.g. Spanish Tax Agency.
Legal advice for Chinese investments in Spain
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