Commercial register
The commercial register is a central element in business life and plays a decisive role in transparency and legal certainty in business transactions. In this article we will take an in-depth look at the Commercial Register, its importance, registration requirements and procedure.
Introduction
The Commercial Register is a public register in which commercial enterprises and merchants are registered. It serves to disclose legally relevant information about companies and is thus an important instrument for legal certainty in business transactions.
Legal basis
In Germany, the commercial register is regulated by the German Commercial Code (HGB). Sections 8 et seq. HGB contain the main provisions relating to the commercial register.
Function and meaning
Transparency
The commercial register contributes to transparency in business life by making important information about companies publicly available. This includes, among other things, the legal form, the registered office, the persons authorized to represent the company, and the contingent liabilities.
Legal certainty
The entry in the Commercial Register has declaratory and constitutive effect. This means that certain legal relationships only come into existence or become binding for third parties through registration.
Trust
For business partners, the commercial register is an important source of information. The registration of a company in the commercial register can strengthen the confidence of customers, suppliers and lenders.
Registration requirements
Merchant status
In principle, all merchants are required to be registered in the Commercial Register. This applies to both sole traders and trading companies such as the GmbH, AG or OHG.
Registration
The application to the Commercial Register must be notarized and signed by all persons authorized to represent the company.
Registration fee
A fee is charged for registration in the Commercial Register, which is governed by the schedule of fees for measures in the Commercial Register.
The procedure
The entry in the commercial register is usually made electronically. After the application has been notarized, it is transmitted electronically to the competent registry court. The registration court examines the application and enters the company in the commercial register.
Information retrieval
Everyone has the right to inspect the commercial register and to request printouts or copies of entries. This can be done online via the joint register portal of the federal states.
Deletion and changes
Changes that are relevant for entry in the commercial register must also be notified. This includes, for example, changes in legal form or business address. As a rule, a company is deleted from the commercial register when it is dissolved or loses its status as a merchant.
Liability
The entry in the commercial register also has an impact on liability. For example, a sole trader is liable with all his assets, whereas in the case of a limited liability company, liability is limited to the company’s assets.
International aspects
Many countries have registers similar to the commercial register in Germany. The European Union has also introduced the Business Registers Interconnection System (BRIS), which enables the exchange of information between the commercial registers of the member states.
Conclusion
The commercial register is an indispensable instrument for transparency and legal certainty in business life. It contains important information about companies and is an important source of information for business people, business partners and the public.