Public Limited Company (Aktiengesellschaft)

A German Public Limited Company (Aktiengesellschaft-AG) is a company having a legal personality of its own. It ownership is organized via shares of stock. As a general rule, the shares of stock can be transferred by the sockholders.  A public company can be listed on a stock exchange (listed company) or not (unlisted public company). The liability of the limited partners (Kommanditisten) is limited to their respective share of the partnership capital. The German limited liability partnership must be entered in the commercial register (Handelsregister). Upon the death of the shareholder, the shares of stock pass to the heir (Erbe). If the shares are held in an investment account and the account holder has designated a beneficiary, the shares pass to the beneficiary.