The EU Digital Services Act (DSA): Definition
The Digital Services Act (DSA), Regulation (EU) 2022/2065 of 19 October 2022, modernises the liability rules for digital services that stem…
EU Trade Marks After Brexit: Brexit and Intellectual Property
Since the 2016 referendum, Brexit has made the protection of trade marks, patents and copyright between the United Kingdom and the European Union more complex.
What Is a Management Package? Definition
A management package brings together contractual and financial arrangements that encourage executives and managers to meet performance targets, often in an LBO.
Fonds de Commerce Sale in France: Definition and Process
A business (fonds de commerce) combines tangible assets (equipment) and intangible assets (clientele, leasehold right, shop sign, trade marks). Definition, deed of sale, publication, creditor objections and registration duties.
Voluntary Liquidation in France (Liquidation Amiable): Definition
Voluntary liquidation (liquidation amiable) is a dissolution procedure followed by the distribution of assets, without court involvement.
What Is Due Diligence? Definition, Types and Steps
Due diligence allows investors to make informed decisions by analysing a target’s financial, legal and commercial information.
BSA Share Warrants in France: Definition and How They Work
A BSA (share subscription warrant, bon de souscription d’actions) is a security that allows its holder to subscribe for shares at a predetermined price during a fixed period.
PSAN in France (Digital Asset Service Providers): Definition
PSAN was the French status of digital asset service providers. Since 1 July 2026, it has given way to European MiCA authorisation as a crypto-asset service provider (CASP).
What Is a BSA-AIR? Definition, How It Works and Legal Framework
The BSA-AIR funds a start-up’s seed stage without setting the valuation straight away. Definition, discount, cap and legal basis in Articles L228-91 of the French Commercial Code.
Mandat ad hoc in France: Definition and Procedure
The mandat ad hoc is a preventive and confidential procedure under the French Commercial Code. Definition, role of the mandataire, steps and differences from conciliation.
Bad Leaver Clause in France: Definition
The bad leaver clause (clause de mauvais partant) penalises a shareholder who leaves the company in circumstances considered unfavourable.
Tag-Along Clause in France: Definition
The sale of shares in a company can create imbalances for minority shareholders. You often fear being stuck with a new…
Post-Money Valuation: Definition
Post-money valuation is the value of a company after a fundraising round, including its initial value (pre-money) and the amount invested.
Vesting in France: Definition
Do you want to retain your employees while protecting your share capital? Vesting is a strategic solution, but setting it up raises…
Shotgun Clause in France: The Buy-or-Sell Clause Explained
The buy-or-sell clause, included in the shareholders’ agreement, organises the sale or purchase of shares in the event of a dispute or a reorganisation of the share capital.
