Meaning of mercantile company
What is a mercantile company:
The commercial company is a legal person whose purpose is to carry out commercial acts subject to commercial law. The mercantile society has a nominative character where there is an obligation and the application of that contribution to achieve an economic purpose.
Commercial companies originate when 2 or more people through a contract are obliged to make contributions to build the social capital of the company that will be transformed into the assets that allow carrying out the commercial activity and, in turn, the partners they participate in the profits and losses suffered by the company.
Regarding its constitution, there are different types of commercial companies such as: public limited company, company in collective name, limited company, limited partnership, among others. Similarly, de facto and irregular mercantile companies are observed.
Commercial companies in fact are those that were not documented in a public or private deed, on the other hand, the irregular commercial company is one that was documented in deed but was not registered or the articles of incorporation were not published as required by law or, its term has expired, that is, it lacks any requirement established by law.
It is noteworthy that a commercial company can change its structure as many times as necessary, that is, it can merge with another company, divide, change partners, change commercial activity, appoint new members, change the statutes established in the document, among others with the particularity of registering all the changes that it undergoes in the Registry where it was constituted.
Likewise, a commercial company can be dissolved, when its partners decide to end the activity, that is, to terminate it for reasons established in the law or in the statutes, as a consequence the commercial company must be liquidated, transforming all assets into money such as in order to cancel the liabilities and the remainder to be distributed among its partners according to their actions.
Each country contains the legal regulations to regulate the different mercantile companies, as is the case of Mexico, which has the General Law of Mercantile Societies reformed in 2009, in Argentina they are governed by the Law of Commercial Societies and, in Spain, the Corporations Law. of Capital.