Sociedad Devenida Unipersonal

English translation: company (UK)/corporation (US) converted to a sole-shareholder/member entity

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Sociedad Devenida Unipersonal
English translation:company (UK)/corporation (US) converted to a sole-shareholder/member entity
Entered by: Ana Ribeiro

19:12 Sep 10, 2020
Spanish to English translations [PRO]
Law/Patents - Real Estate
Spanish term or phrase: Sociedad Devenida Unipersonal
Sociedad devenida unipersonal .- la sociedad podrá ser pluripersonal o unipersonal. Mientras que la sociedad sea unipersonal, el accionista único ejercerá todas las atribuciones que en la ley y los estatutos se le confieren a los diversos órganos sociales, incluidas las de representación legal, a menos que designe para el efecto a una persona que ejerza este último cargo.
Ana Ribeiro
Portugal
Local time: 14:28
company (UK)/corporation (US) converted to a sole-shareholder/member entity
Explanation:
You may certainly word this otherwise, but in this context "unipersonal" describes an entity that has a single shareholder (in the case of "sociedades anónimas") or a single member (in the case of "sociedades limitadas" in which "socios" can generally not be referred to as shareholders).

"Unipersonalidad" can be "originaria" (the entity is initially incorporated as a single-shareholder/member entity), or this circumstance is devenida" or "sobrevenida" (the entity is subsequently converted into a single-shareholder/member entity when for some reason all shares or "participations" are subsequently owned by a single shareholder/member.




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Note added at 34 mins (2020-09-10 19:46:17 GMT)
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To add a comment to Helena's references: I think it's important not to confuse "sole proprietorship" (which describes an individual in business for himself; in Spain called "empresario/comerciante individual") with "sociedad unipersonal" (which in Spain denotes an incorporated entity that has a single shareholder/member).

To mention only one (but quite significant) difference, a "sole proprietor" (called "sole trader" in the UK) has unlimited personal liability for all of his business debts. A shareholder is only liable for the amount of his investment in the business, i.e., the price paid for his shares.
Selected response from:

Rebecca Jowers
Spain
Local time: 15:28
Grading comment
Thanks!!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +5company (UK)/corporation (US) converted to a sole-shareholder/member entity
Rebecca Jowers
4unipersonal/individual company
Barbara Cochran, MFA
3Arg. > a Corporation that has turned vs. been turned into a Sole-Member Company
Adrian MM.
Summary of reference entries provided
Hope this helps!
Helena Chavarria

  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
unipersonal/individual company


Explanation:
One option.

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Note added at 9 mins (2020-09-10 19:21:44 GMT)
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A single-stockholder company.

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Note added at 16 mins (2020-09-10 19:29:01 GMT)
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Single-member limited liability company:

https://rebeccajowers.com/2016/06/19/espanol-juridico-6/

Barbara Cochran, MFA
United States
Local time: 09:28
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  Robert Carter: What about "devenida", is that not important?
12 mins
  -> Yeah, what about it? So what? Isn't all that implied in the context?

neutral  Helena Chavarria: A 'Sociedad Devenida Unipersonal' is not exactly the same as 'Sociedad Unipersonal'
34 mins

neutral  AllegroTrans: You haven't dealth with "devenida"// to make a sensible rendering of the term, I think you do
2 hrs
  -> I don't have to. Anyway, paragraph headings, which this seems to be, should be as short as possible. "Dealth"???

neutral  Toni Castano: No Barbara, there´s nothing wrong in accepting that one has made a mistake, like leaving out the key term "devenida" here.
4 hrs
  -> I don't think that I'm mistaken. Have a good evening.
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23 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
company (UK)/corporation (US) converted to a sole-shareholder/member entity


Explanation:
You may certainly word this otherwise, but in this context "unipersonal" describes an entity that has a single shareholder (in the case of "sociedades anónimas") or a single member (in the case of "sociedades limitadas" in which "socios" can generally not be referred to as shareholders).

"Unipersonalidad" can be "originaria" (the entity is initially incorporated as a single-shareholder/member entity), or this circumstance is devenida" or "sobrevenida" (the entity is subsequently converted into a single-shareholder/member entity when for some reason all shares or "participations" are subsequently owned by a single shareholder/member.




--------------------------------------------------
Note added at 34 mins (2020-09-10 19:46:17 GMT)
--------------------------------------------------

To add a comment to Helena's references: I think it's important not to confuse "sole proprietorship" (which describes an individual in business for himself; in Spain called "empresario/comerciante individual") with "sociedad unipersonal" (which in Spain denotes an incorporated entity that has a single shareholder/member).

To mention only one (but quite significant) difference, a "sole proprietor" (called "sole trader" in the UK) has unlimited personal liability for all of his business debts. A shareholder is only liable for the amount of his investment in the business, i.e., the price paid for his shares.

Rebecca Jowers
Spain
Local time: 15:28
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 107
Grading comment
Thanks!!
Notes to answerer
Asker: Wow, Thanks!!


Peer comments on this answer (and responses from the answerer)
agree  Helena Chavarria
14 mins
  -> Gracias, Helena

agree  neilmac
40 mins
  -> Thanks, neilmac

agree  AllegroTrans
1 hr
  -> Thanks, Allegro

agree  Toni Castano: Absolutely.
3 hrs
  -> Thanks, Toni

agree  Antonella Perazzoni
16 hrs
  -> Thanks, Antonella
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12 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Arg. > a Corporation that has turned vs. been turned into a Sole-Member Company


Explanation:
If this is Argentina, as in Public Companies in the UK that need to issue a prospectus, but not if the number of members falls to a minimum *inadvertently* turning them into Private Companies, then the sociedad has not been actively converted into a a BrE sole trade or AmE sole proprietorship, but has drifted into such one-wo/man company status.

Example sentence(s):
  • Arg. La sociedad devenida unipersonal puede subsistir como tal aun después de vencido el plazo de tres meses de la *reducción a uno* del número de sus socios.

    Reference: http://repositorio.uade.edu.ar/xmlui/bitstream/handle/123456...
    Reference: http://www.proz.com/kudoz/spanish-to-english/other/128222-so...
Adrian MM.
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
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Reference comments


17 mins peer agreement (net): +1
Reference: Hope this helps!

Reference information:
"Consequential sole proprietorship", meaning that such proprietorship was not originally held by a single person.

Also "unipersonalidad sobrevenida":

https://www.proz.com/kudoz/spanish-to-english/law-contracts/...

supervening conversion to a single-shareholder entity (or) company/corporation

(or) conversion to a single-shareholder company as the result of supervening events

https://www.proz.com/kudoz/spanish-to-english/business-comme...

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Note added at 19 mins (2020-09-10 19:31:37 GMT)
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The second reference is an answer by Rebecca Jowers, who certainly knows what she's talking about!

Helena Chavarria
Spain
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24

Peer comments on this reference comment (and responses from the reference poster)
agree  Rebecca Jowers: Hi, Helena. I'll post an additional comment to my entry
7 mins
  -> Hi, Rebecca! I'm glad you're here to provide a decent translation and explanation :-)
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