The European Parliament has accepted, with amendments, the European Commission's proposal for a new legal form: the European Private Company (SPE). The amendments, which are wide ranging, can be viewed here. The most significant concern employee participation and the requirement that the SPE should have a "cross border component" demonstrated by one of the following: [1] a cross-border business intention or corporate object, [2] an objective to be significantly active in more than one Member State, [3] establishments in different Member States, or [4] a parent company registered in another Member State. For further discussion of the SPE, pre-dating the European Parliament's decision, see: M. Siems et. al., "The European Private Company (SPE): An Attractive New Legal Form of Doing Business?", February 2009, published on SSRN and available here.
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