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Język Polski
The legitimacy of introducing a simple joint-stock company into the Polish legal order
Karol Ryszkowski
http://orcid.org/0000-0003-2744-3533Aleksandra Witoszek-Kubicka
https://orcid.org/0000-0001-5304-3379Abstract
RESEARCH OBJECTIVE: The main purpose of the article is to assess the legitimacy of introducing a simple joint-stock company (PSA) into the Polish legal order.
THE RESEARCH PROBLEM AND METHODS: The basic method is the analysis of laws regarding a simple joint-stock company and their interpretation presented by representatives of the doctrine.
THE PROCESS OF ARGUMENTATION: The article consists of three main parts. The first presents the characteristics of the PSA together with the legislator’s comments. The second part attempts to justify the claim that this type of company is attractive for start-ups. In particular, the focus was on an unconventional solution in the area of raising funds for business operations through crowdfunding. The third part presents the experts’ position on the possibility of using this type of legal form in the activities of start-ups focusing on the facilities declared by the legislator.
RESEARCH RESULTS: Due to the analysis of laws and subject literature, potential advantages and disadvantages of introducing PSA into the Polish legal order were indicated. The authors take the view that combining the features of a limited liability company with a joint-stock company may be the legislator’s response to the needs of the start-up environment. However, an unambiguous assessment will only be possible after testing this legal form in business practice.
CONCLUSIONS, INNOVATIONS, AND RECOMMENDATIONS: The introduction of a new legal form can significantly affect interest in crowdfunding. However, the authors believe that the complement of new legal solutions dedicated to start-ups would be to clarify the regulations on equity crowdfunding.
Keywords
Crowdfunding ; Startups financing ; Simple joint-stock company ; Company law ; Contract law
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