Akciová společnost

Akciová společnost, just a see or akc. spol, is the Czech form of the corporation.

Foundation

For the foundation we need a capital of 2,000,000 crowns, the only requirement is a legal or two individuals. After the Velvet Revolution, many state-owned enterprises were privatized, thus especially in the early 1990s, many companies were founded with this legal form.

Organs

• Annual General Meeting: combine all the shareholders will decide on the sharing of profits and organs. The number of votes per shareholder is the number of treasury shares.
• Board of Directors: The number of persons must be at a maximum of five at least three. When a single shareholder is a person enough. The board is elected by the Supervisory Board.
• Board: The institution has the main task to supervise the Management Board and is authorized to examine the accounts and all other documents. Its members are still elected by the Annual General Meeting. If a company has more than 50 employees, a third of the employee may choose the remaining two-thirds selects the Annual General Meeting. The Supervisory Board must have at least 3 members. The institution is elected every five years.