The public consultation opened by the Commission is aimed at doing an in-depth reflection on how to adapt the European company law framework to the new landscape of the 21st century. On this way, the Commission collects inputs on the general orientation of European company law and on more specific initiatives that could be envisaged in the future

The European Commission has launched apublic consultation with the aim to collect comments on the future of European company law. The Commission considers now the time to see whether today's needs are still met by the existing legal framework, specially bearing in mind the growth of cross-border trade and the development of e-commerce. The deadline for sending contributions is 14 May 2012. In April 2011, Commission consulted on how improve corporate governance framework for EU companies.

Company law is crucial to ensure legal certainty and protect shareholders' rights. It provides a common set of rules that offers equivalent protection to shareholders, creditors and other stakeholders across the EU who are affected by companies' actions. Whilst Member States different legal traditions and company structures must be respected, harmonisation of the basic rules makes it easier for companies to offer services and products to all customers in the Union.

The existing European level legislation on company law includes a large number of directives and regulations. Today's challenges require us to look at company law not only from a purely legal perspective but in the wider context of corporate governance, corporate social responsibility and businesses' key role for innovation and growth.