Opis: | An entrepreneur or business owner is a natural person who engages in profitable activities on the market as part of an organized business. There are important differences between entrepreneurs and other types of economic actors, so legislators have created special rules which apply whenever a particular legal/organizational structure for an economic enterprise is established, altered, or abolished. These special rules are constructed in such a way that they serve the interests they are intended to promote, while simultaneously making it easier for the entrepreneur to exercise the rights and privileges to which he is entitled.
During the course of his life, a business owner may transfer ownership of the business to another natural person, in which case all rights and obligations related thereto are also transferred to the recipient. As the universal legal successor, said transferee then enters into all legal relationships pertaining to the transferred concern.
Legally, the transfer of ownership of a business enterprise does not involve a change in the status of the transferor, as the latter receives no opposite performances of which his shares would be the object. Instead, the object of his performance may be some other property right or money, or the transfer may be effected without remuneration. The transferor is not concerned with the conveyance of commercially organized property (in the sense of a change in material status), but rather with his own complete withdrawal from the organized undertaking. The purpose of the legal provisions governing such transfers is to enable a change in legal ownership (in whole or in part) of the commercially organized property, thereby allowing the tranferee to acquire the status of universal legal successor.
The ownership transfer of an enterprise must necessarily be reflected in the business and accounting records relating to the property in question, and so it also touches on the area of accounting in commercial enterprises. Lawmakers have, under certain conditions, made allowances for ownership conveyance according to the principle of tax neutrality, which enables the business to continue operations uninterrupted and reduces the financial burden on both the transferor and transferee. |
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