Management board members in start-ups operating as companies will have joint and several liability for company debt if enforcement against the company fails.

On 13 February, the lower chamber of the Polish parliament received a legislative proposal to amend the Code of Commercial Companies and Partnerships to introduce a new type of company called “simple joint-stock company”. What’s the idea behind having a “sub-species” of the joint-stock company in the Code? As already explained by the Ministry for Entrepreneurship and Technologies on a number of occasions, the main idea is to support the development of innovative industries, especially through start-ups.

For the full text of the article by the director of our Warsaw office, advocate Grzegorz Zawada, see Rzeczpospolita on-line and the Dobra Firma weekly.