spolenost

Spolenost is a term used in Central European languages to denote a business entity commonly translated as company or corporation. It refers to a legal person formed to conduct commercial, industrial, or professional activities. A spolenost is recognized by law as separate from its owners, capable of owning property, entering contracts, and suing or being sued. It often has the potential for perpetual existence, continuing beyond the lifetimes of its founders or initial owners.

Common forms of spolenost include sole proprietorships, partnerships, limited liability companies, and joint-stock companies. A key feature in many forms is that liability is limited for owners or shareholders, so personal assets are typically protected from business debts. By contrast, some business structures such as sole proprietorships or certain partnerships expose owners to unlimited liability.

Formation and governance usually require a formal process, including registration with a government authority and the creation of governing documents like articles of association or memorandum of incorporation. A spolenost typically has a management structure that may include owners or shareholders, a board of directors or managers, and an elected or appointed executive team. Rights and duties, capital structure, and profit distribution are defined in governing documents and corporate law.

Economic and regulatory roles involve accounting, reporting, taxation, and compliance with competition, securities, and labor laws. Taxes may apply at the corporate level on profits, and distributions to owners can be taxed again in some jurisdictions. Dissolution or liquidation ends the spolenost, following legal procedures.

In Czech and Slovak usage the term and its variants appear as společnost or spoločnosť, with common forms including s.r.o. (společnost s ručením omezeným / spoločnosť s ručením obmedzeným) and a.s. (akciová společnost / akciová spoločnosť).