At least in the morning and evening, some also at noon: brushing teeth – who doesn’t do it?
But what does brushing your teeth have to do with justice? Actually nothing at all. Nevertheless, this comparison lends itself to certain provisions of company law. Namely, when it comes to maintaining the protective shell of corporations. Just as we all keep our tooth enamel in good order when we brush our teeth every day.
Company law in Switzerland imposes various requirements on a company that must be fulfilled in order to maintain the legal form of the legal entity. These requirements apply in particular to joint-stock companies and limited liability companies (so-called corporations), which are liable only with their share capital. If they are not fulfilled, the protection offered by the corresponding corporate form – like tooth enamel – becomes porous and the shareholders or the board of directors may be liable.
Certain tasks are associated with these legal requirements. The correct fulfilment of these tasks is called corporate housekeeping and includes, among other things, the following:
- Organisation, convening and holding of the annual general meeting with counting of votes and taking of minutes.
- Organisation and holding of at least one meeting of the board of directors per year with taking of minutes
- Creation of an appropriate corporate structure
- Updating the entries in the commercial register
- Keeping a share register
- Coordination of the auditors
In everyday entrepreneurial life and in the pursuit of a new idea, experience shows that some of these tasks are forgotten or fade into the background – which is understandable: who can be bothered with tedious formalities when the actual work in and on one’s own company already fully consumes one? But just like brushing your teeth, this carelessness can quickly hit your wallet.
That’s why YLEX offers support. We check your company’s corporate housekeeping and assist you in fulfilling these tasks.
Benefit now from the IFJ Startup Deal with YLEX.
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