The German mentality

Generally speaking, Germans are considered to be well-organized people who love rules and prohibitions and are punctual, hard-working, disciplined, reliable, but also comparatively humorless. In fact, many Germans strive to do everything thoroughly, well and precisely. That costs time – and flexibility. In Germany, the sense of order is cultivated more than in many other

Public Limited Company (Stock Corporation)

The shareholders of a joint stock company must pay a defined amount of share capital into their company, which is made available for creditor protection. The required minimum amount depends on the national legal requirements. A stock corporation is managed by the management board, which is controlled by the supervisory board. The owners are the

Private Limited Company

A private limited liability company is a form of corporation that can be formed as a single-member company or as a company with several shareholders. One or more shareholders can act as managing director; however, an employed third-party managing director can also be appointed. The shareholders of a GmbH must pay a defined amount of

Corporation

A corporation is a “legal entity”. If you run a corporation, you must strictly separate the private sphere from the corporate sphere for accounting and tax purposes. The company assets are separated from the private assets of the shareholders. This has the advantage that shareholders of a corporation are only liable with their paid-in share

Business Partnership

Business Partnerships are companies registered with the Commercial Register, but, according to the respective national law, they are not necessarily “legal entities”. Therefore, their partners are personally liable. The partnership form is often chosen for commercial transactions. Formally, these companies are then called partnerships. They take the form of a limited partnership or a general

Association of Persons

Associations of persons are small commercial companies that are not required to be registered with the Commercial Register. This is possible if the association of persons does not conduct any commercial business and remains below a legally defined turnover limit. Partnerships are formally managed as a civil law partnership or as a partnership company. The

Partnership

Partners in a partnership may make withdrawals from and payments into the business operations at any time. The transparency principle applies. With a partnership, you can therefore balance private and business liquidity requirements without red tape. In principle, the partners in partnerships have unlimited personal liability for this on a pro rata basis with their

Sole Proprietorship

A sole proprietorship is a type of with one partner who can conduct their business activity as a “registered merchant”. The registered merchant has unlimited personal liability for his business activity with their own fortune.

Legal Forms

When you want to start a business, ask yourself the question of the appropriate legal form for the business. This question also arises if you want to outsource a business operation from your existing company. Over time, companies change, the opportunities and risks associated with them change, and the goals you pursue with companies may

Certification Processes

The process of certification, including certification audits, of management systems is described in ISO 17021. You should allow sufficient time for preparation up to a certification audit. Organizations that are already close to standard requirements obviously do not need as much time as organizations that are still far from standard requirements. Note that it is

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