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Questions and Answers
What is the primary duty of an entrepreneur regarding organizational structure?
What is the primary duty of an entrepreneur regarding organizational structure?
Which type of entity is NOT included in the ordinary section of the business register?
Which type of entity is NOT included in the ordinary section of the business register?
According to Art. 2214 c.c., what must an entrepreneur engaged in a commercial activity maintain?
According to Art. 2214 c.c., what must an entrepreneur engaged in a commercial activity maintain?
What distinguishes the goods or services produced by an entrepreneur?
What distinguishes the goods or services produced by an entrepreneur?
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Which of the following is true regarding insolvency law for commercial entrepreneurs?
Which of the following is true regarding insolvency law for commercial entrepreneurs?
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What distinguishes cooperative companies from other types of companies under Italian Company Law?
What distinguishes cooperative companies from other types of companies under Italian Company Law?
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Which form of partnership is specifically limited to non-business enterprises according to Italian Company Law?
Which form of partnership is specifically limited to non-business enterprises according to Italian Company Law?
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In what way must contributions be treated in partnerships as opposed to companies?
In what way must contributions be treated in partnerships as opposed to companies?
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What type of capital forms the basis for partnerships and companies in Italian Company Law?
What type of capital forms the basis for partnerships and companies in Italian Company Law?
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Which of the following is a type of company limited by shares under Italian Company Law?
Which of the following is a type of company limited by shares under Italian Company Law?
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What is the primary requirement for a business activity to be classified as economic?
What is the primary requirement for a business activity to be classified as economic?
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Which of the following describes a small entrepreneur according to the Civil Code?
Which of the following describes a small entrepreneur according to the Civil Code?
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Which activity is explicitly identified as being conducted by agricultural entrepreneurs?
Which activity is explicitly identified as being conducted by agricultural entrepreneurs?
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According to the Civil Code, which of the following activities requires registration in the business register?
According to the Civil Code, which of the following activities requires registration in the business register?
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What distinguishes a commercial entrepreneur from an agricultural entrepreneur?
What distinguishes a commercial entrepreneur from an agricultural entrepreneur?
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Study Notes
Italian and European Company Law
- Companies are the standard organizational structures for business activity
- Article 2082 (Civil Code): An entrepreneur is someone who professionally conducts an organized economic activity aimed at producing or exchanging goods/services.
- Organization requires planning, coordination of actions, and coordinated use of factors like capital and labor
- A business activity is considered economic if costs equal or are less than revenue.
- Business activities are categorized by:
- Business activity type (e.g., commercial vs. agricultural)
- Business size (e.g., small vs. medium-sized)
- Form of business (e.g., individual vs. collective)
Specific Business Activities
- Agricultural entrepreneur (Art. 2135 c.c.): Includes cultivation, animal husbandry, and related activities. Activities primarily focus on agriculture.
- Commercial entrepreneur (Art. 2195 c.c.): Includes industrial activity (goods/service production), intermediary activities (goods movement), transportation, and banking/insurance.
- Small entrepreneurs (Art. 2083 c.c.): Includes farmers, artisans, small traders, and those operating primarily with their own labor and family.
Legal Publicity and Business Register
- The ordinary section includes partnerships, corporations, cooperative corporations, consortiums, companies with foreign activities, European economic interest groups, and public entities.
- A special section covers agricultural enterprises, small entrepreneurs, simple companies, and artisan businesses.
Accounting Records
- Entrepreneurs must maintain records like journals, inventory books, and other records based on the nature and size of business (Art. 2214 c.c.).
Statutory Agency
- Factors, attorneys in fact, and clerks are agents with differing authorities within a commercial enterprise.
Insolvency Law
- Certain entrepreneurs are not subject to bankruptcy procedures under specific circumstances (Art. 2555 c.c.)
Business Distinctive Signs
- Business name (ditta): Identifies the entrepreneur.
- Banner (insegna): Identifies business locations.
- Trademark (marchio): Distinguishes products/services.
Partnerships and Companies (Società)
- Partnerships: Simple partnerships, general partnerships, and limited partnerships
- Companies: Limited companies (e.g., SPA, SRL, SAPA)
- Cooperative Companies: Operate for mutual benefit rather than profit maximization.
Business Activity and Contribution
- Contributions must be estimated financially (generally applicable only to partnerships, with some differences for companies)
- Contributions represent the risk capital for companies/partnerships.
- The share capital remains constant unless modified by decision(s) of members
Company Characteristics Comparison
- Partnerships: Members have unlimited/joint liability for debts
- Companies: Have legal personality separately from their members; this means they can be held responsible for debts by the entity itself rather than by its members. Members generally have limited liability.
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Description
Explore the fundamentals of Italian and European company law, focusing on the definitions and classifications of entrepreneurs and business activities. Understand the key concepts such as economic activity, organization, and the various forms of business structures. This quiz covers essential articles from the Civil Code relevant to entrepreneurs.
