Ст.н.с. д-р Красимира Кънева
Институт по аграрна икономика - София
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Institute of Agricultural Economics - Sofia
The basic principles of the functioning corporative formations, e.g. Partnerships, Limited Liability Companies, Farmers' Corporations and Shareholders' Companies are reviewed in this article.
The Partnerships and Limited Liability Companies which are predominant in US agriculture get a growing popularity in Europe and particularly in the former socialist countries - East Germany, Czech Republic and Hungary. This occurs mainly by the transformation or separation of parts of the former Cooperatives while the objective is to achieve capital concentration through the buying out of the shares from the numerous members and their inheritants.
The advantage of the Partnerships compared to the rest of the formations is in the lesser formalities in the stage of their creation. Furthermore, the Family Partnerships make easier the possession transfer among generations. The disadvantaged refer to the unlimited responsibility of all or of a part of the members regarding their personal property.
The Limited Liability Companies are the most frequently spread formation in agriculture. Their advantages refer to the limited responsibility of the members, opportunities for equality in management participation and better taxation conditions.
Farmers' Corporations which predominantly are spread out mainly in the US and most often belong to families and besides the opportunity to facilitate the family interrelations have the advantage of concentrating larger capital and assuring credits easier.
All of the mentioned already formations and particularly the Shareholders' Companies are perspective for Bulgaria. However they have to get adequate legislative reglementation since the existing Laws do not assure clear frames of the functioning of Limited Liability Companies and Shareholders' Companies in agriculture, while the Partnerships and Farmers' Corporations are not legally defined.
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Статията е постъпила в редакцията на 28.06.2006 г.