The legislative process introducing Simple Joint-Stock Company (Prosta Spółka Akcyjna) into Polish law is now complete. Prof. Tomasz Sójka, SMM Legal’s Founding Partner, is one of the few expert-ideators of the project. What is more, Prof. Maciej Mataczyński and other lawyers from our Firm’s company law department made their substantive contributions at the earlier stages of the work.
Simple Joint Stock Company (abbreviated in Polish P.S.A.) was developed in response to the current economic context, with special emphasis on the specific needs of the start-up community. Its main goal is to streamline excessively rigid and complex organisational framework available within previously existing legal solutions. The authors combined beneficial elements of a private limited company and a joint-stock company, offering a completely new, flexible business formula.
‘P.S.A. is a Polish iteration of a larger European trend focusing on developing tools that respond to the needs of innovative entrepreneurs’, says Prof. Tomasz Sójka, Funding Partner of SMM Legal, adding that although ‘the project is not a panacea to all problems, it stands a good chance of serving as a long overdue stimulus to modernise Polish company law’.
‘SMM Legal lawyers engaged in the P.S.A. project prove that it is only the unique combination of academic knowledge with everyday business experience and deep awareness of business needs that produces effective results’, adds Prof. Maciej Mataczyński, Managing Partner at SMM Legal. ‘In the end, the final test for the new law will come in practice’.