We don’t like to paint the devil on the wall. Rather, we think that part of risk management is to ensure the ability of an owner or a partner to act even if the person is unable to act himself at the moment. Illness and accidents are just two examples. The roles that an entrepreneur has as owner, managing director or partner must also be fulfilled in this situation – but by whom and on what basis? This is where the entrepreneurial power of attorney helps.
Structure sheds light on the sometimes complex interrelationships
The scope of an entrepreneur’s default varies greatly and depends on the legal form as well as the degree of organization of the company. Therefore, it makes sense to systematically clarify the individual situation. A proprietor acts as a person, whoever can represent him can also represent his proprietorship. So if an owner has issued a power of attorney and drawn up clear instructions and guidelines for action, a failure on the part of the owner does not automatically lead to an inability to act. A power of attorney is necessary, since representations are only possible within the legal framework – this also applies to spouses and life partners! A managing director, on the other hand, is the legal representative of his GmbH. If the managing director is unable to act, the company is represented by other authorized representatives under commercial law. And if these do not exist or their representation possibility is limited, it needs if necessary a new managing director. This is appointed by the shareholders’ meeting. Thus, the ability of the shareholders’ meeting to act is also an important aspect that must be considered depending on the shareholder structure. But if the shareholders’ meeting has the capacity to act, it may be important for a shareholder to be represented with voting rights despite his absence, if only to safeguard his interests. Thus, the granting of an entrepreneurial power of attorney also or above all requires that it be embedded in all other regulations of a company. This has already achieved a great deal. Now all that is needed is the right proxy.
THE MAK`ED TEAM accompanies medium-sized companies in fundamental entrepreneurial questions and thus also in succession and preventive emergency planning. Here, after analyzing the essential criteria, THE MAK’ED TEAM develops a roadmap with concrete instructions for action and all necessary information for essential decisions. A preventive emergency concept equips you and your company for emergencies, so that you and your company remain capable of acting.