• Introduction - The Core Features of Company Law
• European Company Law
  
• Limited Liability & Creditors
• Centralized Management
• Shareholder Control

The course offers an English-language introduction to company law with a focus on fundamental problems common to all legal systems.

On successfully completing the course students will understand the diverging interests of the various stakeholder groups in limited-liability companies and the strategies through which the law seeks to resolve the resulting conflicts of interest. Moreover, the course will raise students’ awareness for the diversity of legal solutions adopted in Austria, Germany and the UK as well as the limitations of EU harmonisation efforts.

Active participation in class will foster the ability of students to use the legal terminology and express themselves in English in a clear and intelligible manner. 

Attendance is compulsory. Absence in one class will be tolerated without the need to offer a justification. Any further absence will only be tolerated if the student can provide a reasonable justification supported by written evidence (e.g. medical attestation).

The course combines elements of a lecture with active participation from the students. It is based on the book: Paul Davies, Introduction to Company Law (OUP, 2nd edn. 2010). Reading of the relevant chapter(s) for each class is essential. Additional information on differences between company law in the UK and in Austria will be provided in class. Students are encouraged to participate in a lively debate in class. No PowerPointslides are used. Attendance is compulsory.

Assessment (all students, but see below regarding exchange students!)

Students will be marked according to their participation in class and two written exams. All students can score up to 40 points, of which

• 10 points (25% of the overall score) will be awarded for active participation in class
  (max. 2 per class, max. 3 per week),
• 10 points (25% of the overall score) in the interim written exam and
• 20 points (50% of the overall score) in the final written exam.

In order to pass a WU student will need at least 20.5 points overall.

The interim exam will be "closed book" (no materials except for a general dictionary, not a special law or business dictionary). The exam will cover all topics discussed in the first four units of the course. It will take 15 minutes and will consist entirely of single-choice questions.

The final exam will cover all topics discussed in class as well as in the reading materials. It may also cover the introductory part of the course already included in the interim exam. The final exam will last for 90 minutes. It will consist mainly of short answer and/or essay-type questions and may also include single-choice questions. This exam will be held as "open book" exam and students will be allowed to bring in any materials in hardcopy form (including personal handwritten or typed notes). No electronic devices will be allowed!

Both written exams will be in English. Students will not be marked on their English language skills, but they are expected to express themselves in intelligible English. However, the proper use of the relevant legal and economic terminology will be a criterion in the marking. Exchange students (other than German native speakers) will be exempt from knowing German legal terminology.

Assessment (additional task for exchange students)

Exchange students will receive 6 ECTS for this course (WU students receive only 4 ECTS). Therefore, exchange students will be required to give an extra presentation on a topic to be agreed with the lecturer during the first week of the course, preferably linked to a current EU issue or to the company law of their respective home jurisdiction. The presentation should be timed to last approximately 20 minutes.

In addition to the points earned for their participation in class and the two written exams (see above), exchange students will be accorded up to 20 points for this presentation; the grading scale is adjusted accordingly.