19Chapter 2 – Law of Business Entities

acquisition

Erwerb

gaining of ownership, e.g. of one business entity over another

cf. “ownership” and “property” in Chapter 5

→ (to) acquire – erwerben

to gain ownership

affidavit

eidesstattliche Erklärung*; eidesstättige Erklärung* (Ö)

a “written oath” that may be used as evidence in court proceedings

cf. “representation” , “oath” in Chapter 9

affiliate, affiliated company, associated company

Beteiligungsgesellschaft

a company that has between 20–50% of its shares owned or controlled by another company

cf. “subsidiary”

articles of association (UK)

Geschäftsordnung; ergänzende Satzungsurkunde, die das Innenverhältnis regelt

cf. “by-laws” 

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articles (of incorporation) (US), memorandum (of association) (UK)

das Außenverhältnis regelnde(r) Gesellschaftsvertrag/Satzung einer Kapitalgesellschaft

certain documents that need to be filed with the competent government authority in order to validly create a corporation and that disclose certain basic facts about a corporation and regulate its affairs

cf. “by-laws” and “incorporation” , PG 1 II.A, p. 94 and II.B, p. 99

→ (to) incorporate – eine Kapitalgesellschaft gründen/eintragen lassen

to bring a corporation into legal existence

assets

Vermögenswerte, Aktiva

the sum of a person’s or entity’s rights and property

cf. “property” in Chapter 5

→ asset protection – Vermögensschutz

a strategy aimed at systematically protecting one’s assets

association

Vereinigung, Verband, Verein*

a formally connected group of persons or entities who share a common interest or goal

cf. “articles (of incorporation)” , “by-laws” 

→ (to) associate – sich vereinigen/verbinden, miteinander verkehren

to formally connect with other persons or entities

at a discount

unter Nennwert, mit Abschlag/Verlust

below the nominal value

cf. “face value” 

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at a premium

über Nennwert, mit Aufschlag/Gewinn

above the nominal value

cf. “face value” 

audit

Prüfung, Finanzprüfung, Abschlussprüfung*

an official examination of financial accounts and documents

cf. “balance sheet” 

→ auditor – Finanzprüfer:in, Abschlussprüfer:in*

an independent expert that must be appointed to check the annual financial statements if certain criteria are met

balance sheet

Bilanz (eines Unternehmens)

a document that compares the corporation’s assets and liabilities

cf. “balance sheet test” in Chapter 18

board

Gremium, Beratungsorgan, Entscheidungsorgan, Aufsichtsorgan

a body for consultation and/or decision-making

cf. “body”

→ managing board, executive board, board of directors – Vorstand*, Geschäftsführung*, Management

the corporate board that handles the day-to-day business of a corporation and are often chaired by a CEO

→ supervisory board* – Aufsichtsrat

a corporate board that checks on the management’s conduct

→ advisory board – Beirat

22a corporate board that typically provides non-binding advice

body (of a corporation), corporate body

Organ* (einer Gesellschaft)

positions and boards of a corporation needed for it to carry out its functions and represent it to the outside world

,

cf. “articles (of incorporation)” , “by-laws” and “representation”

business enterprise

Unternehmen*

an organization created to run a business

business entity