German states’ justice ministers push for new corporate structure at conference
The justice ministers of Germany’s federal states have advocated for a new legal form for companies at their conference in Bad Schandau. The proposed “Society with Bound Assets” is intended to offer founders more flexibility and promote sustainable investments, according to a statement from the North Rhine-Westphalia Ministry of Justice on Friday. The states are seeking an alternative to foundations that is simpler and more practical.
North Rhine-Westphalia will lead a working group to clarify intellectual property issues in artificial intelligence, focusing on the use of protected content for AI training and the protection of AI-generated works. The rapid progress of technology is posing new challenges to existing law.
Other topics discussed at the conference included the reform of commercial courts and the simplification of the appointment of professional administrators. In the future, the states also want to enable the registration of employees of administrators, in order to meet the demand.