The capital of the joint-stock company in the comparative legal systems

Abstract

The company in all its forms is a legal structure that does not deny its importance, especially the joint stock company, which is a company whose mainstay is capital. The legal provisions framing its capital have differed in comparative legal systems. Capital is attracted by two systems. Purely legal, based on the protection of the company's creditors, while the other, which is the Anglo-Saxon system, relies on the principles of capital change and its duality, on an economic and commercial basis, based on capital, and the speed, flexibility and adjustment required for its assembly and increase. This article does not look at the provisions of capital to reach their application, but rather deals with it by studying it in search of the first principles that govern it, and the difference and discrepancy involved in the comparative legislation in this regard.