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Private initiative is a mechanism widely supported in our current legal system, finding its main basis in Article 333 of the 1991 Political Constitution, which expressly states the following:
“Economic activity and private initiative are free, within the limits of the common good. For their exercise, no one may demand prior permits or requirements, without the authorization of the law…”.
Therefore, despite the complications and obstacles that the different market ecosystems generate, the Colombian legal system provides both businessmen and entrepreneurs with a large number of tools that, used in harmony and effectively, can be the best strategy to protect or legally shield their business and worry only about developing the corporate purpose of their company, summarized in generating profits for their shareholders.
In Cuadro Legal Abogados, when we offer business advisory and management consulting services to our clients, we generally turn to figures that allow entrepreneurs of small, medium and large companies to apply the current regulations that allow their commercial development to be as dynamic and effective as possible.
Within this exercise, we have found the overlapping of two legal regimes that have been a determining ally for entrepreneurs in Colombia. These are: Law 1258 of 2008, which brought with it the figure of the Simplified Joint Stock Company, supported by analogy, in some of its provisions in Law 222 of 1995, and on the other hand, the General Insolvency Regime, composed mainly by Law 1116 of 2006 on corporate insolvency and Law 1380 of 2010, which regulates the figure of insolvency in non-trading natural person. Although it is not directly focused on business development, it is a fundamental pillar for businessmen, who in the internal sphere of their finances go through moments of crisis or illiquidity; but that end up affecting their companies consequently, especially due to the inability to capitalize or inject cash flows that allow them to overcome a bad economic period or to give another step to the business through investments.
Likewise, it is pertinent to affirm that companies that form a synergy in the application of norms from all branches of Law, especially from the Private, Public and Labor Law branches, will be one step ahead of their competitors. It is no secret that legal sanctions or legal consequences that are applied by public entities or judges can put an end to a profitable and fruitful company, which on a commercial level was performing successfully but unfortunately neglected (even for a second) the current regulations that concern it.
Finally, in Cuadro Legal Abogados, you will find a logistic and strategic ally in the management of your business legal matters, which will be reflected in the creation of an effective and profitable management model for your business.

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