The Divergence of Austrian and German Commercial Law - What Kind of Commercial Law Do We Need in a Globalised Economy?
International Company and Commercial Law Review, pp. 273-278, 2004
6 Pages Posted: 23 Nov 2005
This article discusses the recent reform of Austrian commercial law. This reform will replace the existing, German based, Commercial Code with a new Business Enterprise Code, and will therefore lead to a divergence of German and Austrian law. The first part of this article outlines the rise and fall of the Commercial Code in Austria. In the second part the new Austrian approach is compared with the commercial law of Germany, France and England. The third part assesses the reform of Austrian commercial law. It is suggested that the Austrian reform has failed to accommodate new challenges in the development and evolution of commercial law.
Keywords: Commercial law, Austrian law, German Commercial Code, comparative law, globalisation, divergence, convergence
JEL Classification: K20, K22, N40
Suggested Citation: Suggested Citation