SHAREHOLDER AND THE COMPANY. THREE CENTURIES OF EVOLUTION

The development of business organisations and commercial law as such in the Kingdom of Hungary was gradual. We may add that it was belated, as compared to other Western European countries, but also Austria. This is also documented by historical events, where the onset of the modern age in the Kingdom of Hungary dates back to 1526; the Industrial Revolution has also begun later, given the rural character of Hungary that also preserved its nature during the Austro-Hungarian Monarchy. After the end of World War I and the formation of Czechoslovakia, intensive reform and unification efforts were underway in the law of business organisations. World War II frustrated these efforts. The period that followed after the end of the war was not a propitious time for the commercial law either. The monopoly held by the Czechoslovak Communist Party meant liquidation of private businesses and a centrally controlled economy. Changes were not brought before the events after 1989, or 1993 (associated with the formation of an independent Slovak Republic).