How to Expand or Modify the Corporate Purpose in a Commercial Company

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pujamonidas99
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How to Expand or Modify the Corporate Purpose in a Commercial Company

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In the formation of a company it is common to create it through a commercial company, with one or more partners. For this, the general law of commercial companies in its article 1 recognizes the different types of companies: company in collective name in simple partnership limited liability anonymous society limited by shares cooperative society by actions simplified in turn, the social contract that the partners or shareholders decide to establish is formalized before a notary public, through a public instrument or deed registered in the public registry of property and commerce. This public deed contains the bylaws , which are the clauses under which the company will be governed during its operations and within which it is established, among other things.

The duration and domicile of the company, the corporate purpose to which the company will be dedicated. It is very important to define as precisely as possible the scope of the corporate purpose, since in addition to determining the legal scope of the company, its economic activities and of course the legality of Industry Email List said corporate purpose. How to change the corporate purpose of a commercial company? If the commercial company has grown, expands operations or seeks new business developments based on its activities, or ventures into new models, the expansion of the corporate purpose can be carried out , by holding an extraordinary general assembly of partners or shareholders , attending to the formalities that in the specific case of each company establish.

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The general law of mercantile companies and, where appropriate, the bylaws. In other words, the bylaws must be modified with the procedure provided for said modification. As indicated in article 269 of the general law of mercantile companies “at any time the shareholders may agree forms of organization and administration other than the one contemplated in this chapter; as long as the shareholders celebrate before a notary public the transformation of the simplified stock company to any other type of commercial company, in accordance with the provisions of this law.” change of corporate purpose through extraordinary general assembly article 182 defines which elements can be addressed in extraordinary assemblies: extraordinary assemblies are those that meet to discuss any of the following matters.
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