We don't like to dwell on worst-case scenarios. Instead, we believe that true risk management involves ensuring that an owner or shareholder can remain operational even when they are personally unable to act. Illness and accidents are just two examples. The roles an entrepreneur holds as owner, managing director, or shareholder must still be fulfilled in such situations—but by whom and on what basis? This is where a power of attorney for entrepreneurs comes in.
Structure brings clarity to complex situations
The impact of an entrepreneur's absence varies significantly depending on the legal form and the organizational structure of the company. Therefore, it makes sense to systematically clarify your individual situation. An owner acts as an individual; whoever represents them can also represent their position as owner. If an owner has granted power of attorney and established clear instructions and guidelines, their absence does not automatically lead to an inability to act. A power of attorney is necessary because representation is 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 their GmbH. If they are unavailable, the company is represented by other authorized signatories under commercial law. If none exist or their authority is limited, a new managing director may be required. This person is appointed by the shareholders' meeting. Thus, the ability of the shareholders' meeting to act is also an important aspect to consider, depending on the shareholder structure. However, if the shareholders' meeting is capable of acting, it may be important for a shareholder to be represented by proxy even in their absence, if only to protect their interests. Consequently, granting a power of attorney for entrepreneurs requires—or above all—integration into all other company regulations. You have already achieved a great deal with that. Now, you just need the right authorized representative.
THE MAK'ED TEAM supports medium-sized companies with fundamental entrepreneurial questions, including succession and proactive emergency planning. After analyzing the essential criteria, THE MAK'ED TEAM develops a roadmap with concrete instructions and all the necessary information for key decisions. A proactive emergency concept equips you and your company for emergencies, ensuring that you—and therefore your company—remain capable of acting.
You can find more about succession and emergencies here.
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