Summary
Samenvatting Law
- Course
- Institution
Een goede uitgebreide samenvatting van LAW
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6 types of LawPublic
1. Constitutional law
2. Administrative law
3. Criminal law
Private
4. Personal and family
5. Company law
6. Patrimonial law
Company Law
Private Limited/ Closed Corporation (BV in Dutch)
Company assets and private assets separate
The capital is divided into shares.
Shares are not freely tradeable.
You pay company tax instead of income tax. After a break-even point, you pay less tax.
Public Limited/ Open Corporation (NV in Dutch)
All shareholders own a piece of the company. They will never lose more than they spent
on the shares. Their money is protected.
Mother or holding company:
- Holds money for owners
- Owns daughter companies
Tax advantages
Limits financial risk for the owners
↓↓↓
Daughter or Work company:
- Daily operations
- If one goes bankrupt, the others continue.
Structure of a corporation
Owners
- The general meeting of shareholders.
Board of Directors
- The supervisory board
- Management board (with the CEO, the Vice Chair and the Treasurer)
Executive management
- CFO, COO etc.
Rights of the Shareholders
● Decision making
● Dividend
, ● Information
● Place items on the agena
● Appoint and remove directors/supervisors
Management duties of the management board
● Day to day management
● Annual reports
● Annual accounts
● Representation of the company
(dis)advantages of a corporation
Advantages Disadvantages
- Seperate legal personality - Complicated, starting one has strict
- Assets separate laws. A significant amount of capital
- Ownership is transferable needed.
- Company does not depend on one or - Higher costs because of separation
two persons between ownership&manamgent
- You can issue shares to get cash - Bigger means taking longer to make a
- More expansion potential decision.
Hotel Management Contract:
1. You can be the owner + GM
2. You can be the owner of the building
3. You can hire a professional company to exploit the hotel for you
Franchising:
You pay a fee to use the name, business plan and resources of a bigger company.
Referral Association:
A sales and marketing chain: Sharing costs of marketing
Hotels stay independent but associate with others
Pay an initial fee to join the association
Corporate Responsibility (Criminal Law)
CORPORATE SOCIAL RESPONSIBILITY
Definition
Corporate Social Responsibility involves achieving commercial success in ways that honor
ethical values and respect people, communities, and the natural environment
aka: Making profit with respect for People and Planet
Focusses on:
- Human rights
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