Legal Mechanisms for the Protection of Commercial Companies under OHADA Law: Challenges and Prospects for Emerging African Markets
DOI:
https://doi.org/10.63385/jemm.v2i2.48Keywords:
OHADA (Organisation for the Harmonisation of Business Law in Africa) Law, Corporate Entity, Corporate Protection, Attractiveness, Company Sustainability, Judicial Security, Business Law HarmonisationAbstract
The intent of shareholders of a commercial company is to make profits and never to lose; that is why the OHADA (Organisation for the Harmonisation of Business Law in Africa) law has created, partly for the protection of shareholders and their investments in the commercial company. Before the advent of the OHADA law in 1993, commercial companies were subject to a mixture of different laws from different eras, which could benefit neither the company nor the shareholders. With the advent of this new and harmonised law, the climate for business is favourable for the partners and the legal entity that carries the business (the commercial company). Through its different Uniform Acts, the OHADA law provides provisions with the aim of protecting the commercial company and its partners. The objective of this article is to analyze the different Uniform Acts to assess how far the OHADA law has advanced in guaranteeing shareholder and company protection. From analytical findings, the attractiveness of the OHADA law is revealed through the different measures of protection of commercial companies from internal and external pressures. These efforts cover every stage of corporate existence, from incorporation to liquidation. Though the effort of protection encounters some difficulties, such as language problems and the phenomenon of the concentration of companies, the OHADA Law has established enough measures for the development and sustainability of commercial companies under the OHADA legislation. We intend to use the doctrinal and legal analytical method to attain this objective.
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