What is a statute?

The concept of statute has several meanings in Spain, because depending on what we refer to, it will mean one thing or another. In general, when we speak of statute we refer to laws, obligations or bases of a "contract" that must be fulfilled for the proper functioning of an action, company or activity.

Since the web is based on economic concepts, it is important that we see what the statutes of a company are. They include the standards agreed by founders or partners of an organization or company for profit or non-profit. The statutes usually regulate the correct functioning of the legal entity (of the society, foundation or association), which have been chosen by the partners themselves.

These "laws" have the function of regulating the perfect functioning of the legal person against other entities or individuals. In addition, they try to impose the rights and obligations of the members who belong to it or have any relationship with it.

The scope of action of each statute will depend on the entity in which we find ourselves and how it will be done: local, regional, national, ... Thus, when specific regulations are created for a company, we must pay special attention to how and where it affects.

As for one of the most relevant characteristics of the statutes is that they are usually created to meet specific objectives of the company in which we find ourselves. That is, it will be important to take into account the mission, visiĆ³n and objectives that the company considers when creating the statutes so that they can be achieved without problems.

Normally, the statutes have been fixed in the company from the beginning. It is usually rare that new statutes are added after their creation or inception, although there are always exceptions. For the creation of new statutes, the partners or founders with more power will have the power to decide which new norms to include and which not (can be discarded).

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