Milewska Legal

Commercial companies

Sole proprietorship (sole proprietorship) vs. limited liability company (Ltd.)

What are the differences between them? Establishing which form of business will be most beneficial for me?

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Does an entrepreneur before the court have to use a lawyer?

With certain exceptions, Polish law does not impose an obligation to use attorneys or legal counsel in court cases. However, are there reasons why entrepreneurs (both sole proprietors registered in CEIDG and companies) should seriously consider using a professional attorney in a court case? In this article, we outline some of the reasons why such assistance may be needed.

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Do the company’s financial statements have to be signed by all board members?

The Accounting Law imposes an obligation on the entities designated therein (among others, commercial companies) to prepare annual financial statements. Until now, the issue of signing such a report did not raise major questions – the report had to be signed by all members of the entity’s governing body and by the person keeping the entity’s books, i.e. the accountant. However, as a result of amendments to the Accounting Law, from January 1, 2022, the possibility of signing the financial statements by one member of a multi-member body was introduced.

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Criminal liability of a board member for failure to file a bankruptcy petition against the company

The content of Article 299 of the Companies Act is well known among members of the management board of limited liability companies, but it is not the only sanction for failure to file a bankruptcy petition for the company in due time. It turns out that in addition to the company’s creditors, the (non)filing of a bankruptcy petition may also be of interest to the prosecutor.

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Before acquiring shares in a limited liability company, check whether the company owns an agricultural property

When concluding a contract for the sale of shares in a limited liability company, it is not uncommon to overlook legal provisions operating outside the regime of the Commercial Companies Code and the Civil Code. Wrongly.

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“Women on Boards” directive on gender balance among directors of listed companies

The European Parliament has passed legislation in 2022 to change the structure on the boards of the largest companies in member states. They mainly concern the standardization of recruitment for top management positions in companies. The aim of such a measure is to ensure a balance in the representation of men and women in management positions in listed companies.

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