Corporate criminal liability
Legal persons may be criminally liable for crimes committed on their behalf by their legal representatives or by those acting under their authority when the company has not adopted effective prevention measures (criminal compliance). Penalties may include fines, dissolution, suspension, disqualification or judicial administration. LO 1/2015 requires an effective prevention model and a supervisory body (compliance officer).
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Other Commercial law terms
Universal judicial proceeding to resolve a debtor's insolvency, balancing the interests of all creditors. May end in a payment agreement or asset liquidation.
Commercial corporate form where capital is divided into shares and partners' liability is limited to contributed capital. Most common form in Spain for SMEs.
Commercial corporate form with capital divided into freely transferable shares. Minimum capital: EUR 60,000, at least 25% paid up. Mandatory for listed companies, banks and insurers.
Distinctive sign identifying products or services in the market. Registered with OEPM (Spain) or EUIPO (EU). Protection for 10 renewable years. Grants exclusive use rights and infringement prosecution.
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