samlagsfélag

SAMLagsfélag is a term originating from Icelandic law that translates roughly to "cooperative society" or "joint-stock company." It refers to a legal entity formed by a group of individuals or other entities who pool their resources for a common purpose. The primary characteristic of a samlagsfélag is that its members have shared liability for the company's debts and obligations. This liability can be limited or unlimited depending on the specific structure and registration of the samlagsfélag.

These entities are typically established for commercial or economic activities, allowing members to collaborate on projects, share risks, and benefit from collective bargaining power or economies of scale. The formation and operation of a samlagsfélag are governed by specific Icelandic legislation, which outlines requirements for registration, governance, and member rights and responsibilities. Decisions within a samlagsfélag are often made collectively by the members, with voting power often proportional to each member's contribution or share. The concept encourages cooperation and mutual support among its participants, fostering a sense of shared ownership and responsibility.