A Simple Joint-Stock Company (Prosta Spółka Akcyjna, PSA), a new flexible legal vehicle facilitating the development of start-ups, is about to become a reality. The government has approved draft amendment to the Code of Commercial Companies regarding the introduction of this novel solution in Poland. Prof. Tomasz Sójka, an outstanding specialist in the field, has been working on the draft in a small group of top experts.
PSA is a response to the needs of the start-up community, as the use of the existing corporate forms has turned out too costly and too complex for this sector. The new formula combines the advantages of a private limitedl iability company and a joint-stock company, and is meant to streamline the development of innovative ventures.