In recent years, venture capital (risk capital funds) or private equity has become one of the most effective ways to get large investment returns since its profitability has been far superior to those obtained through stock markets.
A company’s shares confer to shareholders two types of rights: financial rights (i.e. the right to dividends) and political rights such as the right to vote at shareholder meetings (I). However, the company’s administrative organs determine its daily operations (II).
Since the beginning of the economic and financial crisis, the market for venture capital funds (risk capital funds) or private equity has been constantly changing. In recent years, the gradual internationalization of this activity has allowed its openness to all markets, including emerging ones.
Following the burst of the real-estate bubble in Spain, real estate prices fell from 30 to 40% since 2008 (minus 7.8% in 2013). Yet, the crisis is not uniform. The downturn has had less effect on some areas and real estate properties.
Franchising is a business relationship between two parties, franchisor and franchisee, for which the first gives the rights to use its trade as well as its know how to the second in exchange for a royalty or financial consideration. Normally, these contracts also include training and support from the franchisor to the franchisee.
Recently, the press has referred to a specific judgement of the Provincial Court of Madrid from 14 November as unprecedented on the ground that, in declaring the contract void and ordering the bank to pay back its client the amount of their investment, the court based its judgment on the (mere) wrong qualification of the product in question (a structured bond) and not on the concrete circumstances of each client of the product.
Article 336 of the Spanish Code of Civil Procedure establishes that expert opinions provided by litigants should correspond to the complaint or the answer (without prejudice to the right in Article 339 of the Civil Act Procedure to request the court to appoint an expert).
Introduction
The setting-up of a subsidiary in Spain involves the creation of an independent entity with its own legal personality. Even though the parent Company contributes the share capital to form the subsidiary and directly manages the subsidiary, the subsidiary is an independent legal entity.
A branch and a subsidiary are the two main legal forms through which a foreign investor can develop their activity in Spain. While a subsidiary is an independent and autonomous legal entity, different from its parent Company, for which it participates in the market on its own account and risk, a branch is a secondary establishment completely dependent on its parent Company, being a mere extension of the latter on Spanish territory.
In Germany, only a third of the population grant any kind of will or heritance contract. It is now even more important to think in advance of granting last wishes, especially for people who do not have their last residence in Germany. This is equally true for Spaniards living in Germany.
