| 摘要: | 我國商業組織型態可分為非法人商業組織與法人商業組織，在非法人組織上我國有獨資與合夥；法人組織型態有公司法所定義之四種公司類型，然而，股份有限公司為我國最常見之企業組織型態，惟公司法對於股份有限公司設有許多管制性之強制規定，因此在遵守大型企業所設計之公司法規範需付出許多代理成本與遵循成本。我國於2015年引進並修法增訂新型商業組織型態，包含人合色彩重但具有法人格之有限合夥，以及股東人數與股份轉讓設有限制之閉鎖性股份有限公司，使創業者在考量創設商業組織型態時有更多的選擇，並賦予創業者或股東有較大的自治空間。近年來新創產業興起，為鼓勵新創產業發展，閉鎖性股份有限公司之增設使新創產業可有較大彈性之股權安排與公司治理，並使其在商業上具有籌資靈活度之優勢，此外，我國商業組織以中小企業為多，且以家族企業為大眾，因具有人合色彩之特質，故在引進閉鎖性股份有限公司後能否以平衡商業組織人合特性與籌資上之需求。
選擇商業組織型態時，除法規制度外，尚需考量商業組織型態之控制權決策分配、營運成本及代理成本等經濟效益，對此本文先介紹我國非法人與法人商業組織型態，次以閉鎖性股份有限公司為核心，介紹外國與我國閉鎖性公司之異同，最後，再以法律經濟分析之方法檢視各商業組織型態之經濟效益。
Our country’s businesses are categorized into unincorporated and incorporated types. The former is divided as proprietorship and partnership, while the latter comes with the four types as defined by the Company Act, among which the Company Limited by Shares is the most common one. The Act, however, imposes many regulatory and compulsory provisions on such as a company, and therefore lots of agency costs and compliance costs are required in compliance with the statutory regulations. In 2015, our country introduced new business types to include Limited Partnership with a strong sense of close partnership mixed with a juristic personality and Close Corporation with restrictions on the number of shareholders and share transfers, allowing more business types to choose in the entrepreneurial environment, and higher business autonomy for the owners and shareholders. In view of the rise of startup companies in recent years, the newly introduced business type of Close Company is set to encourage the development of startups, allowing entrepreneurs to have greater flexibility in equity arrangements and corporate governance, along with the advantage of flexibility in financing. In addition, since our country’s companies are mostly small and medium-sized, and family-based, with a strong sense of close partnership, the type of Close Company is intended to balance the characteristics of close partnership and financing needs.
When choosing a business organization type, in addition to the relevant laws and regulations to be considered, it is also necessary to take into account the economic efficacies of business control in decision making as well as operating and agency costs. To this aim, this article begins with the introduction of our country’s unincorporated and incorporated business types, and then focuses on the limited-by-shares Close Company to elaborate the differences between the domestic and foreign practice. In the end, the economic efficacies of all these business organization types are examined with legal and economic analyses. |
