Gesetz zur Modernisierung des GmbH-Rechts und zur Bekämpfung von Missbräuchen MoMiG
Law for the Modernisation of the German Limited Liability Company Law and the Prevention of Misuse
Law for the Modernization of the Private Limited Companies Act and to Combat its Abuse
Act to Modernise the Law Governing Private Limited Companies and to Combat Abuses
I prefer the third one, which is from the Bundesjustizministerium. They might write ‘modernize’, but a lot of people seem to think ‘ise’ is de rigueur in the EU. Did the first two really confuse Recht with Gesetz, or was it an earlier title?
The German Law Journal has a special issue on the topic (no. 9 for 2008, if you read this later).
One of the probably most groundbreaking – and at the same time also most contentious – issues of the German reform of private limited companies by the Gesetz zur Modernisierung des GmbH-Rechts und zur Bekämpfung von Missbräuchen (MoMiG – Law for the Modernization of the Private Limited Companies Act and to Combat its Abuse) is the introduction of the Unternehmergesellschaft (UG – Entrepreneurial Company). This new sub-type of the Gesellschaft mit beschränkter Haftung (GmbH – Private Limited Company) is specifically designed for entrepreneurs and has already unofficially been dubbed the “Mini-GmbH” and “GmbH light”. It can be seen as the centerpiece of the legislator’s overall aim to facilitate and accelerate the formation of companies and the underlying motive of increasing the international competitiveness of the German GmbH.