Aktiengesellschaft (AG)
Germany's public-company form. Governed by the AktG.
| Germany (AktG) | Aktiengesellschaft (AG) |
|---|---|
| Nearest US equivalent | Delaware C-corporation (public-ready) |
| Nearest UK equivalent | Public limited company (PLC) |
| Nearest French equivalent | Société Anonyme (SA) |
Two-tier governance: Vorstand and Aufsichtsrat
The AG has a mandatory two-tier board:
- Vorstand: management board, runs the company, appointed by the supervisory board
- Aufsichtsrat: supervisory board, supervises the Vorstand, elected by shareholders; for AGs with more than 500 employees, employees elect part of the supervisory board (Mitbestimmung / co-determination)
- Shareholders elect the Aufsichtsrat, not the Vorstand directly. This is a structural difference from US/UK single-tier boards
Shares and capital
AG shares (Aktien) can be Nennbetragsaktien (par-value shares) or Stückaktien (no-par shares), and registered (Namensaktien) or bearer (Inhaberaktien). For AGs intending to list on a stock exchange, the typical form is no-par registered shares. The minimum capital of €50,000 must be at least 25% paid in at formation.
Filing and disclosure
AGs are registered in the Handelsregister and subject to extensive disclosure requirements, especially if publicly listed (Bundesanzeiger filings, periodic reporting under EU directives). Private AGs (those not listed) have fewer ongoing requirements but the same constitutional structure.
Octelligence supports the share register, board records, and capital tracking for AGs at the platform-mechanics level. EU data residency. Statute-specific AktG automation (e.g., capital-increase resolutions) is on the roadmap.
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