Trying the European Company Statute, would be playing the game!
The European company passes by the theoretical debates, which have taken place over the last 30 years.
It is now a reality and Mr. Philippe CAMUS emphasised (1) the importance of a legal structure adapted for the consolidation of groups.
It was difficult to find a medium position between no participation at all and the various national models.
I was needed to forget various quarrels and to offer concrete solutions.
Some key figures
30 Billions Euros could be saved by firms thanks to the adoption of the European Company which will have a simple structure.
Firms operating in the American market benefit from certain state and private sector aid in they R&D programs.
The capital risk investment represents 70 Billion Euros in Europe against 12 Billion Euros in the US.
The European stock market specializing in new issues are not yet at the level of the NASDAC.
120 000 Euros in minimum capital opens the SE to small and medium seize firms.
The financial context of the birth of the SE
Community programs in favour of innovation.
Following the green paper on innovation, the Commission has adopted various programs in favour of innovative firms in Europe.
These programs are mainly based on the theme Capital investment, the key to the creation of employment.
The economical context of the birth of the SE
1° Harmonization of community law creates juridical solutions different from those of yesterdays.
2° Necessity to lower the costs of analyses.
3° Specialization of the business.
4° Complexity of the expertise needed in this context.
5° Increasing professionalism of the actors.
The judicial and practical context of the birth of the SE
1°The harmonisation of community law engenders different judicial solutions from those of yesterday
- Company law, transposition of directives, and harmonisation of legislation.
- Social law, the advantages of the jurisprudence of the European Court covering the transfers of enterprises and mergers
- IP, community protection of this really important matter in order to secure the production process.
2° Necessity to lawer the costs of analysis.
The harmonisation of the rules of commercial law facilitates general diagnostics.
3° Encreasing demand to develop niches
The niches are characterised by the presence of intellectual property.
Satisfaction of the demand
How does the SE will permit to optimise the exploitation of niches?
Target: objective n°1 consolidate the position
Be present on the internal market and be defended by its workers.
Ceaselessly create new products and sale them
Means: the construction of a policies of European enterprise.
Target: objective N° 2 To develop activity on the European market.
Increase the turn over
To become leader in ones core market in order to increase activity in all connected markets.
Means: survey of competition/development policy
1° envisage take over and partnerships
2°Offer a community flag to partners
To play with the SE in business strategies:
- The putting in place of the SE should lead to an increase in the level of protection of the industrial property and to favourise participation, these are two key legal argument to defend the concentration process of niches.
- Such rationalisation and its relative transparency should make it attractive for the community funds and for investment in favour of R&D.
(1) Societas Europaea (La société européenne)
Colombani, Jacques-Louis - Favero, Marc
Joly - 5/6/2002