Le capital social
Institution:
Lyon 3Disciplines:
Directors:
Abstract EN:
The share capital's notion is closely linked to the legal entity's one. In spite of criticisms that were levelled at him, and defects which can be finded, the share capital is quite basic in company law, and his importance must be asserted. According to french new legislative reforms, it seems now established that he can't any longer be regarded as a companies' control instrument (the voting power does not depend any more on the share's property). Assigning still now to him such a part would mean disappointment and criticisms. The share capital represents a basic instrument for financing the company's activity. So he must be regarded in an extensive way : that concerns the potential inclusion of "intellectual contribution" and the legal system of what could be named "quasicapital". Also, he can be used as a creditors'protection tool (not as direct pledge but as an indirect guarantee), because of steadiness and intangibility principles, which have to be redefined. To a lesser extent, he can be used as a partners'protection tool because of the screen-role he acts sometimes. In conclusion, the share capital is an essential notion and he needs a real legal status, particulary through a new definition of principles which accompany him (steadiness and intangibility).
Abstract FR:
La notion de capital social est liee a celle de personnalite morale des societes. Malgre les critiques qui ont pu lui etre adressees et les defauts qui peuvent etre releves, cette notion est essentielle en droit des societes et son importance doit etre affirmee. Un point semble acquis en fonction des reformes recentes, ce n'est plus un instrument de controle de la societe (le droit de vote n'est plus uniquement fonction de la possession d'actions). Lui attribuer ce role n'entrainerait que deception et critiques. En revanche, le capital social est un instrument fondamental en matiere de financement de l'activite sociale; il faut en ce sens l'envisager de maniere extensive (cela vise la possible inclusion des apports en industrie, et le regime de ce que l'on peut appeler quasi-capital). Il a aussi un role a jouer comme instrument de protection des creanciers (non comme gage direct, mais comme garantie indirecte), grace aux principes de fixite et d'intangibilite, qu'il faut cependant redefinir clairement : et dans une moindre mesure comme instrument de protection des associes par le role d'ecran qu'il joue parfois. En conclusion, la reflexion aboutit a affirmer la necessite du capital social, et lui organiser un reel statut juridique, notamment par une redefinition des regles qui le caracterisent.