Società per azioni

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Società per azioni (Italian: [sotʃeˈta pper atˈtsjoːni]; abbr. S.p.A. [ˌɛssepiˈa]) is a form of corporation in Italy and San Marino, meaning 'company with shares' (although often translated as 'joint-stock company', which may or may not be a limited liability entity). It is more or less equivalent to S.A. or public limited company (PLC) in other countries. The other common form of corporation in Italy is società a responsabilità limitata (S.r.l.) ('limited liability company'). S.p.A. issued shares (Italian: azioni), while in S.r.l. the unit was quote/stock of share capital. Moreover, the articles of association of S.r.l. allowed different allocation of profit and assets, which was more comparable to a limited partnership. Throughout Italy's history, the governance of S.p.A. has been remodeled several times. Originally the S.p.A. was governed by the Commercial Code of 1865, and subsequently by that of 1883, under the name "società anonima" ('anonymous company'). The regulations contained...

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