ACQUISITION OF COMPANIES
I. DEFINITIONS
One or some companies (acquired companies) may be acquired by another company (acquiring company) by transfer all of the acquired company’s assets, rights, obligations and lawful interests to the acquiring company, after which the acquired company shall cease to exist.
Legal consequences: Termination of the existence of the acquired companies and preserve the existence of the acquiring company
II. PROCEDURES:
- The acquiring company and acquired company shall prepare the acquisition contract and draft the charter of the acquiring company.
- The members, owners or shareholders of the companies shall ratify the acquisition contract and the acquiring company’s charter.
- The acquisition contract shall be sent to the creditors and employees (within 15 days from the day on which it is ratified)
- Conduct business registration of the acquisition of companies
III. COMPOSITION PROFILE
- The acquisition contract;
- Resolution and meeting minutes ratified the acquisition contract of the acquiring company
- Resolution and meeting minutes ratified the acquisition contract of the acquired companies, except the cases the acquiring company is a member owning more than 65% of the charter capital of the acquired companies;
- A valid copy of the enterprise registration certificate or an equivalent document of the acquired companies;
- Notification of changes to enterprise registration information
- Notification of supplement and update of business registration information
- The list of authorized representatives (for single-member limited liability company)
- The list of company members (for multiple-member limited liability company)
- The list of founding shareholders (for joint stock companies)
- The list of foreign shareholders (for joint stock companies)
About Us, Hankuk Law Firm
■ Hankuk Law Firm – Introduction
The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.
To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.
To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.
■ Contact us now
For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.
■ Contact Hankuk Law Firm:
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