The legal term of existence refers to the term of validity of a contract or right, that is, it is legally valid or agreed to be valid within this period.
Company duration
The laws of different countries have different provisions on the duration of a company. Except for France and Belgium, the duration of a company is clearly stipulated. The company laws of major capitalist countries such as Britain and the United States have no restrictions on the duration of a company. The duration of a company can be stipulated in the company's articles of association, but it is not necessary. If it is not stipulated in the articles of association, the duration of the company is unlimited.
If the company's articles of association stipulate the duration of the company, the duration of the company may be extended by a special resolution of the shareholders' meeting when the duration of the company expires, but the articles of association must be amended at the same time. Minority shareholders who have objections to the above-mentioned resolutions of the shareholders' meeting shall be allowed to withdraw their shares. France's "Regulations on Commercial Companies" stipulates that the company's articles of association should specify the duration of the company, with a maximum duration of 99 years. However, when the deadline approaches, the deadline can be extended by amending the articles of association at the extraordinary shareholders' meeting. Belgian commercial law stipulates that the duration of a company is generally 30 years. If the company is licensed by the government, the time limit shall be the same as that of the license. After the expiration, the term can be extended for another 30 years.
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Duration of Baidu Encyclopedia Company