TheGov
Topic Author
Posts: 370
Joined: Wed Apr 30, 2003 6:44 am

Need Help With German

Thu Sep 18, 2003 7:42 am

In Germany, some businesses are followed by GMbH. What does that mean?
Always a pallbearer, never a corpse.
 
nikibary
Posts: 84
Joined: Mon May 12, 2003 1:44 pm

RE: Need Help With German

Thu Sep 18, 2003 8:21 am

It stands for "Gesellschaft mit beschränkter Haftung" which translates into company with limited responsibility, as far as I know this means that the company will be backed by the government if something happens to it.
 
Klaus
Posts: 20602
Joined: Wed Jul 11, 2001 7:41 am

RE: Need Help With German

Thu Sep 18, 2003 8:46 am

"...limited liability" is more like it.

And as far as government backing is concerned: Dream on!  Wink/being sarcastic

A GmbH´s liability is limited to its minimum retained capital, for which there are strict rules in the respective laws.

Since creditors know about these limitations, GmbHs will usually not get any meaningful credit without additional backing through uncommitted assets.

I don´t know a lot about the anglo-saxon equivalent, but I suspect the "limited" corporation construct might be similar.
 
TheGov
Topic Author
Posts: 370
Joined: Wed Apr 30, 2003 6:44 am

RE: Need Help With German

Thu Sep 18, 2003 8:53 am

Thanks

Sounds like an LLC, Limited Liability Company
Always a pallbearer, never a corpse.
 
Andreas
Posts: 5880
Joined: Tue Oct 09, 2001 7:56 pm

RE: Need Help With German

Thu Sep 18, 2003 2:51 pm

TheGov, that is exactly the point, it's an LLC! Some differences in details of the legal framework, but essentially it's a LLC.
I know it's only VfB but I like it!
 
LH526
Crew
Posts: 1960
Joined: Fri Aug 04, 2000 2:23 am

Klaus

Thu Sep 18, 2003 5:50 pm

Hi Klaus
Great to see another person from Darmstadt here. I'v been born and raised in Darmstadt and I'm currently studying there.... There world is small, I knew that  Smile/happy/getting dizzy

regards
Mario
Trittst im Morgenrot daher, seh ich dich im Strahlenmeer ...
 
Klaus
Posts: 20602
Joined: Wed Jul 11, 2001 7:41 am

LH526

Fri Sep 19, 2003 3:25 am

Yeah, it takes an international forum on a swedish server to talk to each other...  Wink/being sarcastic

I´ve moved here when I began studying quite a while ago... but it´s definitely one of the nicer places to live in!  Big thumbs up

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