Public University of Navarre

CastellanoEuskara | Academic year: 2024/2025 | Previous academic years:  2023/2024  |  2022/2023  |  2021/2022 
Bachelor's degree in Law at the Universidad Pública de Navarra
Course code: 351305 Subject title: ENTREPRENEURS AND CORPORTATIONS
Credits: 6 Type of subject: Mandatory Year: 2 Period: 1º S
Department: Derecho

Partes de este texto:


Module/Subject matter

Private Law. Mercantile Law



Historical background, characteristics and legal sources of Mercantile Law. Traders and entrepreneurs, their fundamentals, types and duties, including accountancy. Agents. Industrial property and competition law. Partnerships and Companies, with especial attention to capital companies: limited companies and corporations (Sociedades de Responsabilidad Limitada y Sociedades Anonimas)


General proficiencies

Not applicable.


Specific proficiencies

Not applicable.


Learning outcomes

LO8. To understand the principles and scope of application of Criminal Law and the possibilities of punitive response within the context of the Rule of Law.

LO15. To further explore and specialise in different aspects of Private Law and Business Law.

LO18. To draft legal documents.

LO19. To search, select and manage the Law sources applicable to a specific situation.

LO21. To critically analyse, interrelate and integrate legal concepts.

LO22. To identify the legal issues of the current social context.

LO24. To examine and summarise essential issues, mostly within the legal scope.




Methodology - Activity Hours for lectures Hours for personal work
A-1 Lecture / participatory classes 45  
A-2 Practical classes 15  
A-6 Preparation of essays and presentations   13
A-6 Individual study    75
A-7 Exams, Assessments Tests 2  
A-8 Individual Tutoriship   2
Total 60 90








Resultado de aprendizaje Sistema de evaluación Peso (%) Carácter recuperable
 R205, R185, R15, R114, R155, R3, R95, R13 y R175  
Active attendance and participation in the classes
 10%  NO
  R205, R185, R15, R114, R155, R3, R95, R13 y R175   Presentation of personal and individual work on commercial topics  20%  YES
  R205, R185, R15, R114, R155, R3, R95, R13 y R175  Final exam  70%  YES





Lesson 1. The notion of Mercantile Law
I. Introduction to Mercantile Law

II. Sources of Law: Spanish Constitution. The Commercial Code and other legal sources. Commercial costumes and usages, general principles. The EU sources of Law

III. Internationalization of Business Law

IV. The enforcement of Business Law in Spain

Lesson 2. Traders and entrepreneurs
I.  Notion and characteristics
III. Types of traders
IV. Trader¿s liability.
V. Sole trader: Becoming a sole trader. The married trader
VI. Companies

Lesson 4. The business
I. The business is an organization: whole of goods and services. The site. Branches and subsidiaries.

II. Sale and lease of the business. Usufruct. The business as a guaranty.


Lesson 5. Industrial Property. Competition Law
Industrial Property Rights: Inventions (patents, utility models); ornamental and design rights (industrial design); identity signs (trademarks, commercial names); business in internet (web pages and other problems)

II. Competition Law: Competition Law; Unfair competition.


Lesson 6. On Companies
Introduction. Types of Business Companies. Characteristics of Spanish Companies. Basic Legislation on Companies.

II. Formation of the company

III. Effects of incorporation. 3.1. Legal personality. 3.2. Company Name, Registered Office, Nationality. 3.3. Lifting the veil of legal personality.


Lesson 7. Partnerships (Sociedad colectiva y comanditaria)
I. General Partnership (Sociedad colectiva). Formation of a partnership. The agreement. Alteration of the partnership agreement. The relationship between partners: Rights and duties of the partners. The relationship between Partners and third parties. The authority of partners to bind the firm. Partners Liability

II. Limited Partnership (Sociedad Comanditaria): Formation of the partnership. The business name. Relationship between partners. Relationship between partners and third parties

III. Alteration of the partnership agreement. Dissolution and winding up.


Lesson 8. Capital Companies. SA/SRL

I. Basic characteristics of SA/SRL. Corporate name, registered office, nationality

II. Formation of an SA: Formalities; The notarial deed; corporate by-laws; Subscription and minimum initial contribution;

III. Registration in the Mercantile Register. Corporation in formation and failure to register

IV. Types of incorporation

V. Nullity of an SA

VI. Branches and subsidiaries

VII. The webpage


Lesson 9. SA-SRL. Capital and Contributions.

I. Capital. Principles governing the capital. Contributions to the capital. Types of contributions. Payment of contributions

II. Acquisition of own shares/stakes

III. Ancillary obligations (Arts. 86-89 LSC)

IV. Loan capital. Bonds or debentures


Lesson 10: SA-SRL. Shares. Stakes.

I. Shares and stakes as a part of the capital

II. Partners and shareholders rights. Basic rights.

III. Classes and series of shares and stakes Non-voting shares or stakes. Minority holder¿s right. Redeemable shares (acciones rescatables)

IV. Documentation and transfer of shares. Shares represented by certificates. Shares represented by book entries. Transfer of shares. Modus operandi. Limits on transferability

V. Representation and transfer of stakes in SRL.  Representation of stakes. The transfer of stakes

VI. Joint ownership and third parties rights on shares and stakes


Lesson 11: SA-SRL. Governing Bodies: General Meeting

I.  General ideas. Types of meetings. Calling for the meeting

II. Constitution of the meeting. The right to attend and vote. Proxies. The chairman of the meeting.  Attendance list. Quorum

III. Celebration of the meeting. Rights of shareholders and partners at the meeting: the right of information. The adoption of decisions. Minute.  

IV. Challenge of Resolutions


LESSON 12: SA-SRL. Governing Bodies: Directors

I. The position and structure of Directors. Faculties. Forms of administration. The board of directors

II. General rules for all types of directors. Capacity and prohibitions. Appointment. Retribution. Removal

III. Power of representation

IV. Directors¿ duties. Due diligence. Duty of loyalty

V. Liability of directors. General rules. The enforcement of Director¿s liability. Individual actions for directors¿ liability


Lesson 13: SA-SR. Final Accounts. Amendments to the by-laws

I Final accounts. General rules. Duty of accountancy of directors and issue of statements. Financial statement audit. Approval of financial statement and application of the results. Deposit of accounts

II. Amendment of bylaws. Formal requirements. The protection of partners and shareholders

III. Capital increase. Types of capital increase: new shares/stakes, increasing the par value. The decision. New contributions from shareholders and partners.  Increase charged to reserves. Increase charged to offset loans. Increase by converting bonds. Implementation of the decision. Pre-emptive rights. Registry of the capital increase.

IV Capital reduction. Types of reduction. Creditors¿ protection. 


Lesson 14: Partner or shareholder exit and exclusion. Dissolution of the company.

I. Exclusion of partners and shareholders

II. Dissolution of the company. Grounds on dissolution. Effects. Legal personality.

III. Liquidation. General provisions. The company on liquidation

IV. Liquidators. Appointment and dismissal. Duties and liability

V. Operational procedures. The balance sheet. Insolvency while liquidation

VI. Extinction of the company


Lesson 15. Structural changes in trading companies. Groups of companies
I. Transformation: General ideas. The legal personality. Rights of partners and shareholders. Liability of partners and shareholders.
II. Mergers: General ideas. Types of merge. The process. The program. Reports. Approval in the meeting. Operational activities. The creditors¿ right to oppose. Challenge

III. Split off-divestment. Total divestment. Partial divestment. Separation
IV. Total assignments of assets and liabilities.

V. International Relocation of registered office
VI. Groups of companies.



Access the bibliography that your professor has requested from the Library.

Bibliography basic

In English

MUÑOZ PEREZ, A.F, SERRANO ACITORES, A., MARTINEZ ROSADO, J. Handbook of Spanish Business Law, Tecnos, 2nd Ed.

PABLO-ROMERO GIL-DELGADO, Mª C. Notes on Spanish Business Law

In Spanish

  • DE LA CUESTA RUTE, JOSÉ MARÍA (DIR.) Derecho Mercantil I,  Huygens, (última edición)
  • MENENDEZ, AURELIO: Lecciones de Derecho MercantilI, Thomson Reuters  (última edición)
  • SÁNCHEZ CALERO, FERNANDO, Instituciones de Derecho Mercantil I, Thomson Reuters, (última edición)

Further reading which could be suggested by the teacher.

Web pages



English. Spanish when necessary.



Allí donde las autoridades académicas competentes lo indiquen.