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Società per azioni (S.p.A. or spa) is a form of corporation in Italy, meaning "company with shares" (although often translated as "joint-stock company", which may or may not be a limited liability entity). It is more or less equivalent to S.A. or public limited company (Plc) in other countries.
The other common form of corporation in Italy was società a responsabilità limitata (S.r.l.) (literally: limited liability company). S.p.A. issued shares (Italian: azioni), while in S.r.l. the unit was quote/stock of share capital. Moreover, the articles of association of S.r.l. allowed different allocation of profit and assets, which was more comparable to a limited partnership.[1]
Throughout Italy’s history, the governance of S.p.A. has been remodeled several times. Originally the S.p.A. was governed by the Commercial Code of 1865,[2] and subsequently by that of 1883, under the name “società anonima” (“anonymous company”).[3] The regulations contained within the civil code remained unaltered until the 2003 Company Law Reform. The regulations in effect are set out in the Italian Civil Code of 1942, which also adopted the name currently in use. Within the civil code, the articles specifically addressing S.p.A. are found in Articles 2325-2510 of Book V, Title V.[4]
Since 2016, banks are required to run as S.p.A. if their assets are more than a defined threshold.[5] This saw the blue chips of the FTSE MIB Index: Banco BPM, BPER Banca, UBI Banca, demutualized from S.c.p.a., S.c. a.r.l., or S.c. legal forms (respectively, co-operative company by shares, co-operative company with limited liability, and co-operative company).
As a legal form, the S.p.A. has five characteristics that are always present and universally recognized: legal personality, limited liability, transferable shares, ownership by shareholders, and management by a board of directors on behalf of the shareholders.[6] On account of these characteristics, an S.p.A. can raise large amounts of capital by incentivizing many investors to buy its shares, making the S.p.A. suitable for large undertakings.[7] Accordingly, the S.p.A. is the legal form in which large companies typically operate all over the world. [8]
See also
Aktiengesellschaft, the legal form of company in Germany, commonly used in the German translation of Italian companies in German-speaking autonomous regions
^"A Review of Italian and UK Company Law" (PDF). ACCA. Retrieved 14 February 2017.
^Borsari, Luigi (1868). Codice di Commercio del Regno d'Italia (in Italian). Italy: Società l'Unione Tipografico-Editrice. pp. 349–380. ISBN0-7220-3165-3.
^T., Giamini (1902). Journal of the Society of Comparative Legislation, vol. 4, no. 2. New York, NY: Cambridge University Press. pp. 196–201. ISBN9781272397678.
^"LA RIFORMA DEL DIRITTO SOCIETARIO". Università degli Studi di Bari Aldo Moro. Retrieved 2022-05-30.
^Armour, John; Hansmann, Henry; Kraakman, Reinier; Pargendler, Mariana (2017-01-26), "What Is Corporate Law?", The Anatomy of Corporate Law, Oxford University Press, pp. 1–28, retrieved 2022-05-30
^"The Joint Stock Company under Italian Law". VGS' Editorial Board. 15 May 2019.
^Gordon, Jason (September 24, 2021). "Joint Stock Company - Explained". The Business Professor. Retrieved May 29, 2022.
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This article may be expanded with text translated from the corresponding article in Italian March 2018 Click show for important translation instructions View a machine translated version of the Italian article Machine translation like DeepL or Google Translate is a useful starting point for translations but translators must revise errors as necessary and confirm that the translation is accurate rather than simply copy pasting machine translated text into the English Wikipedia Consider adding a topic to this template there are already 2 718 articles in the main category and specifying topic will aid in categorization Do not translate text that appears unreliable or low quality If possible verify the text with references provided in the foreign language article You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation A model attribution edit summary is Content in this edit is translated from the existing Italian Wikipedia article at it Societa per azioni ordinamento italiano see its history for attribution You should also add the template Translated it Societa per azioni ordinamento italiano to the talk page For more guidance see Wikipedia Translation This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Societa per azioni news newspapers books scholar JSTOR July 2022 Learn how and when to remove this template message Societa per azioni S p A or spa is a form of corporation in Italy meaning company with shares although often translated as joint stock company which may or may not be a limited liability entity It is more or less equivalent to S A or public limited company Plc in other countries The other common form of corporation in Italy was societa a responsabilita limitata S r l literally limited liability company S p A issued shares Italian azioni while in S r l the unit was quote stock of share capital Moreover the articles of association of S r l allowed different allocation of profit and assets which was more comparable to a limited partnership 1 Throughout Italy s history the governance of S p A has been remodeled several times Originally the S p A was governed by the Commercial Code of 1865 2 and subsequently by that of 1883 under the name societa anonima anonymous company 3 The regulations contained within the civil code remained unaltered until the 2003 Company Law Reform The regulations in effect are set out in the Italian Civil Code of 1942 which also adopted the name currently in use Within the civil code the articles specifically addressing S p A are found in Articles 2325 2510 of Book V Title V 4 Since 2016 banks are required to run as S p A if their assets are more than a defined threshold 5 This saw the blue chips of the FTSE MIB Index Banco BPM BPER Banca UBI Banca demutualized from S c p a S c a r l or S c legal forms respectively co operative company by shares co operative company with limited liability and co operative company As a legal form the S p A has five characteristics that are always present and universally recognized legal personality limited liability transferable shares ownership by shareholders and management by a board of directors on behalf of the shareholders 6 On account of these characteristics an S p A can raise large amounts of capital by incentivizing many investors to buy its shares making the S p A suitable for large undertakings 7 Accordingly the S p A is the legal form in which large companies typically operate all over the world 8 See also EditAktiengesellschaft the legal form of company in Germany commonly used in the German translation of Italian companies in German speaking autonomous regions Societa a responsabilita limitata limited liability company in ItalyReferences Edit A Review of Italian and UK Company Law PDF ACCA Retrieved 14 February 2017 Borsari Luigi 1868 Codice di Commercio del Regno d Italia in Italian Italy Societa l Unione Tipografico Editrice pp 349 380 ISBN 0 7220 3165 3 T Giamini 1902 Journal of the Society of Comparative Legislation vol 4 no 2 New York NY Cambridge University Press pp 196 201 ISBN 9781272397678 LA RIFORMA DEL DIRITTO SOCIETARIO Universita degli Studi di Bari Aldo Moro Retrieved 2022 05 30 Italian Law 3 of 2015 Armour John Hansmann Henry Kraakman Reinier Pargendler Mariana 2017 01 26 What Is Corporate Law The Anatomy of Corporate Law Oxford University Press pp 1 28 retrieved 2022 05 30 The Joint Stock Company under Italian Law VGS Editorial Board 15 May 2019 Gordon Jason September 24 2021 Joint Stock Company Explained The Business Professor Retrieved May 29 2022 This article relating to the law of Italy is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Societa per azioni amp oldid 1099711520, wikipedia, wiki, book, books, library,
