Corporate:
TYPES OF ORGANIZATION:
Under Brazilian law, organizations serve 2 types: business and non-business companies.
Societies that engage in economic activities in an organized and systematic manner, aiming at the production or circulation of goods or services, will be entrepreneurs.
On the other hand, those who do not have a high degree of organizational complexity, as well as those who dedicate themselves to intellectual activities, of a scientific, literary or artistic nature, will not be considered entrepreneurs, unless such activities constitute part of the company.
Brazilian law contemplates several forms of corporate organization, the most adopted being the limited liability company ("Ltda") and the limited liability company ("SA").
Limitations are governed by the Civil Code, and may also be subsidiaryly regulated by provisions of the Brazilian Corporation Law.
Limitada, Ltda, does not need to publish its accounts, contractual amendments or other constitutive acts, except in the case of capital reduction, incorporation, spin-off or merger.
Sociedade Anônima SA's, Brazilian is governed by Law No. 6,404, of December 15, 1976, and subsequent modifications ("Law of
Corporations ")
.
