Section 9: Sociétés anonymes à participation ouvrière.

Articles in this section · 13

Article L225-269

French Commercial codeIn force

Updated 8 Nov 2023

In the event of dissolution, the corporate assets are distributed among the shareholders only after the capital shares have been fully amortised.

The portion representing the labour shares, in accordance with the decisions taken by the general meeting of the workers' cooperative convened for this purpose, is then distributed among the participants and former participants with at least ten years of consecutive service in the company's establishments, or at least a period of uninterrupted service equal to half the duration of the company, and who have left the company for one of the following reasons: voluntary or compulsory retirement with pension entitlement, illness or disability resulting in unfitness for the job previously held, redundancy due to job cuts or downsizing.

However, former participants fulfilling the conditions provided for in the previous paragraph only appear in the distribution for a share corresponding to the duration of their services reduced by one tenth of its total amount per year elapsed since the termination of their services.

The dissolution of the public limited company brings about the dissolution of the workforce cooperative.

Mariela Petrova

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Common Questions

Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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