Rechtsnatur der aktienrechtlichen Gründerhaftung

A problem that has so far remained unsolved in stock corporation law is the question of the legal nature of the founder´s liability under § 46 of the German Stock Corporation Act (AktG), with which the work deals. First of all, the views on the classification of the forunder´s liability as tortious or corporate character are discussed. Subsequently, the author explains that the founder´s liability under stock corporation law is a sui generis liability in the sense of a risk compensation liability, which secures a proper founding process of the stock corporation as (institutional) compensation for the abstract risk associated with the creation of a stock corporation and its release into legal transactions.