The executive director: concept, nature and remunerationThe executive directors are members of the board of directors of a company that combine management and deliberative functions -proper for directors-, with decision execution functions -associated to the figure of senior executive-.Read more
New Business Secrets Law in SpainLaw 1/2019 of 20 February refers to business and trade secrets and establishes a clear and unequivocal definition of the unlawful actions and exclusions it contemplates. This law transposes Directive (EU) 2016/943 of 8 June 2016 into Spanish law.Read more
The increase of the “Stock Options” as a variable payment system in SpainThis article addresses the concept of the so-called ‘stock options’ -or action plans for employees in its Spanish translation- as it represents an additional compensation that has spread very quickly in Spain.Read more
Advantages of the phantom shares contractThe phantom shares contract constitutes an alternative form of remuneration of key executives and managers. Among its various advantages, a company can retain and motivate staff or convert fixed costs into variables.Read more
What are phantom shares?Phantom shares constitute a mechanism widely used by start-ups to reward talent. Unlike what happens with stock options, phantom shares are not an offering of the company’s real shares but are rather fictitious.Read more
The modification of bylaws and the administrators’ reportThe modification of the bylaws is a regular situation in the life of any commercial business that consists of adapting its basic model of organization and operation to the changes experienced by the company.Read more
The representative of body corporate director cannot be a de facto directorA director is any natural or legal person, who, directly or through representation, exercises the management or administration functions of a company.Read more
How to prevent the paralysis of corporate bodies in SpainThe dissolution of capital companies based on the paralysis of corporate bodies is a question to be answered on a case-by-case basis, since the legal requirement to apply this measure is different according to the state in which the body finds itself.Read more
Article 348 bis, on a business partner’s right of separationArticle 348 bis of the LSC recognizes the right of separation of the partner due to lack of distribution of dividends. The article, among others, resolves the concrete case of a stockholder who expects to leave the company and who has not indicated so explicitly in the committee.Read more
The letter of intent in the context of M&A transactions in SpainThe letter of intent is a written document that serves as a starting point for mergers and acquisitions. Among the most common main clauses are included the terms of the transaction, the exclusivity, the confidentiality and the legal audit.Read more
