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New in the Czech Civil Code – Rules on Family Enterprise

Author

Listed:
  • Karel Marek

    (Faculty of Laws and Administrations Studies – University of Finance and Administration)

  • Martin Jankù

    (Faculty of Laws and Administrations Studies – University of Finance and Administration)

Abstract

For more than two decades the family business enterprises of the first generation (generation of founders) are more and more dominating in the category of today’s Small and Medium-sized Enterprises in the Czech Republic. The necessary legal background defining the legal relationships and rights of all participating persons was, however, limited to general provisions in the Commercial Code that hasn’t solved many of the problems associated thereto. Only in 2012 the new Czech Civil Code, Act. No 89/2012 Coll., introduced the institute of family enterprise as completely new term in the Czech Civil law. The present paper aims to analyse the key rules of this new legal regulation, focusing on significant aspects of the institute in the context of commercial law and family law, as well as to highlight the potential weaknesses in the regulation itself.

Suggested Citation

  • Karel Marek & Martin Jankù, 2020. "New in the Czech Civil Code – Rules on Family Enterprise," ACTA VSFS, University of Finance and Administration, vol. 14(2), pages 137-152.
    • Handle: RePEc:prf:journl:v:14:y:2020:i:2:p:137-152
    as

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    File URL: https://www.vsfs.cz/periodika/acta-2020-1-04.pdf
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    References listed on IDEAS

    as
    1. Thomas Buchmueller & John Dinardo, 2002. "Did Community Rating Induce an Adverse Selection Death Spiral? Evidence from New York, Pennsylvania, and Connecticut," American Economic Review, American Economic Association, vol. 92(1), pages 280-294, March.
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    3. Michael Rothschild & Joseph Stiglitz, 1976. "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 90(4), pages 629-649.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    family enterprise; family member; involvement in the operation of family enterprise; profit share and property gains;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • K36 - Law and Economics - - Other Substantive Areas of Law - - - Family and Personal Law

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