Fri, Oct. 17, 2008

German Contract in English

CK - Washington.   German managers live under the Damocles sword of jail time for a failure to act timely when insolvency looms. Knowing the manager's rights and responsibilities is important. Therefore, a dual-language employment agreement for foreign managers of German corporations is useful.

The Rechthaber blog announced the publication of such agreements on October 16, 2008 and started its series with a German-English manager agreement for a limited liability corporation, GmbH. One size does not fit all, and that is particularly true with legal translations.

One could argue that the term loophole may not always be the proper equivalent of the German term Regelungslücke. Similarly, the reservation of rights to shareholders may not necessarily mean that [i]t shall be incumbent upon the General Assembly to determine … the allocation of business ….

Still, the first, eight-page document in the new series represents a useful approach to introducing foreign readers to the drafting style and general content of such German agreements which in a specific situation would be customized.

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