Glossary entry

French term or phrase:

mettre/mise en société

English translation:

vest/ing in a company or partnership

Added to glossary by Adrian MM. (X)
Nov 1, 2013 15:32
10 yrs ago
11 viewers *
French term

"mise en société"

French to English Law/Patents Law: Contract(s) Sales contract
Hello everyone,

Does anyone know the meaning of this term?

"- En cas de vente totale ou partielle ou de mise en société du BIEN vendu, s'il faisait l'objet d'une saisie, ou s'il était remis en antichrèse,"

I'm thinking about "splitting" but I'm not entirely sure.

Thanks in advance!
Change log

Nov 4, 2013 14:35: Adrian MM. (X) Created KOG entry

Discussion

Daryo Nov 2, 2013:
the right answer is highly unlikely without the right question, i.e. the right parsing.

""mise en société" could very well mean "creating a company", several people pooling their resources into a new company etc... which was my first understanding of "mise en société".

But if you look at the ST given as context, there's a quite different slant to it.

""- En cas de vente totale ou partielle ou de mise en société du BIEN vendu, s'il faisait l'objet d'une saisie, ou s'il était remis en antichrèse,"

This is a list of different ways for the buyer of "THE GOOD" (whatever it is) to loose (more or less intentionally get rid of?) the ownership of this "good":

""- En cas de
--- vente totale ou partielle ou
--- de mise en société du BIEN vendu,
--- s'il faisait l'objet d'une saisie, ou
--- s'il était remis en antichrèse,"

the term to translate is in fact "mise en société du BIEN vendu" as a whole, and then it's not at all about "creating a new company" but about using "the good" as a contribution to the capital of a company (existing or new, doesn't matter)
Nikki Scott-Despaigne Nov 1, 2013:
@Tom Thumb Your suggestion is a real possibility. More context would help.
Adrian MM. (X) Nov 1, 2013:
Putting the building into a company The asker doesn't specify what scenario is triggered by the events: termination of contract etc. But if the building is vested in - namely conveyed to a company - it is effectively taken out of creditors' reach.
Nikki Scott-Despaigne Nov 1, 2013:
@Jackie Hé hé! Apparently, you have changed your mind.
Nikki Scott-Despaigne Nov 1, 2013:
The nature of the ownership is crucial when it comes to the sale of property (real estate). Whether sale of all or part of property, the nature of the ownership is essential. All the owners have to be identified. If there is a management company or SCI type set up, then this is what is being meant by "société". Sorry to hark on about it and do bear in mind I'm only using SCI as an example.
Nikki Scott-Despaigne Nov 1, 2013:
"Setting up of a company" is the general meaning, probably, although it is not said, the creation of an SCI or something of that nature. The information is not given and is not important I mention strictly for an idea of general meaning.
PS : It is clearly a "bien immobilier", the clue being in "antichrèse".
mchd Nov 1, 2013:
D'accord avec philgoddard : conversion, comme utilisé par http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:20...
Jackie Doble Nov 1, 2013:
I agree with Phil, company creation wouldn't work in this case
Guillermo Urbina Valdés (asker) Nov 1, 2013:
The "BIEN" is a building.
philgoddard Nov 1, 2013:
On the assumption that it's a piece of real estate, maybe "conversion into a company" would do it. "Setting up a company" wouldn't quite make sense in this context.
philgoddard Nov 1, 2013:
What is the "bien"?
Nikki Scott-Despaigne Nov 1, 2013:
http://fr.wikipedia.org/wiki/Société_civile_immobilière

That is by way of example, as there is no indication of that type of structure in your original, but it may well be generally what is being referred to: the creation of a company.
Nikki Scott-Despaigne Nov 1, 2013:
I think it means setting up of a company, in the sense of the creation of an SCI. "Split" would not be "legal" enough in context.

Proposed translations

+2
3 hrs
French term (edited): mettre/mise en société
Selected

vest/ing (property) in a company or partnership

apport en société is contribution to the co. or partnership and is nowt to do with investing capital, as in the web ref.. Neither is it *se* mettre en société, namely to form either assoc.

I believe it is putting the asset into the co. etc, rather than Allegro's active acquisition of the asset.

Arguably vs. figuratively an asset or building cannot be 'incorporated'.


Example sentence:

Se mettre en société permet de créer une structure juridique qui possède sa propre personnalité juridique et son propre patrimoine distincts www.fiducial.fr

Peer comment(s):

agree Daryo : makes perfect sense in this ST - the list is about ways for the buyer to loose the ownership of the goods; one way is to use the goods as his contribution to the assets of some company
13 hrs
hvala et merci! surely a logical inference from the scant context.
agree AllegroTrans : yes, an inprovement on my answer
15 hrs
Thanks. A different way of looking at your acquisition idea.
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4 KudoZ points awarded for this answer. Comment: "Thank you! I was finally able to make sense of this paragraph! :-)"
4 mins

acquisition by the company

...of goods, assets etc.


Acquisition by the Company of its Own Shares . Under the Indian Companies Act, approval of at least 75% of a company’s shareholders voting on the matter and ...
www.wikinvest.com/stock/Videsh_Sanchar_Nigam_(VSL... - Cached
Signed the contract for the acquisition by the Company of ...
Signed the contract for the acquisition by the Company of Tirrenia di Navigazione Italian "With the sale of Tirrenia - said Minister Matteoli - you follow the ...
www.informare.it/news/gennews/2011/20111318-Sottoscritto... - Cached
Acquisition by the Company of significant value assets ...
Acquisition by the Company of significant value assets-acquisition of shares in Occidental Resources Inc.
www.petrolinvest.pl/en/news/acquisition-by-the-company...
Peer comment(s):

neutral philgoddard : You need to provide FRENCH references. We know that "acquisition by the company" is a phrase in English :-)
7 mins
Yes, and I see possible ambiguity: I agree we need to know what BIEN is here
neutral mchd : il ne s'agit pas d'acquisition, c'est une transformation ! Attention : votre traduction est dangereuse ! La mise en société de la valeur du bien.
29 mins
How can you convert a building into a company??
neutral Daryo : my only objection is that the ST is worded from the viewpoint of the one who's contributing to company's assets, not from the viewpoint of the company who’s receiving the assets.
17 hrs
yes, I agree, but I think that there can be little doubt that this involves the BIEN (which we know now to be a building) going INTO the company's assets
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13 mins

company creation

It seems to mean form a company our create a company; lots of examples of moving from a sole trader (entreprise individuelle) to 'mise en société

https://eco.e-bourgogne.fr/oseo/Masque_FD.php?T=TRANSMETTRE&...
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-1
1 hr
French term (edited): \"mise en société\"

shareholding asset

What I understand is, for example, if a private owned building sold in part or in total or becomes a shareholding asset...
Example sentence:

A shareholding asset that once was property of Mr. XXX

Peer comment(s):

disagree Daryo : the ST is about the action leading to this result
15 hrs
Thanks for sharing your view point
Something went wrong...
+1
40 mins

the formation of a company

You cannot be more specific as to its particular form or nature as that is not given and there are limits to creativity when it comes to translation!

--------------------------------------------------
Note added at 51 mins (2013-11-01 16:24:12 GMT)
--------------------------------------------------

See discusssion section.

http://www.juritravail.com/Question/sci-location/Dossier/Id/...

http://www.capital.fr/immobilier/actualites/pourquoi-creer-u...

http://www.cbanque.com/immobilier/societe-civile-immobiliere...



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Note added at 4 hrs (2013-11-01 19:45:38 GMT)
--------------------------------------------------

More context would help, but I maintain that "la mise en société" can be read here to mean that a company/partnership structure has been formed,
"mettre en société", "se mettre en société"...expressions to describe the formation of a "société" which can be used in French to describe what in the UK would be a partnership or a firm.

Any more context possible?
Peer comment(s):

neutral Daryo : there's enough context; what's missing is starting by questioning the question – an improved parsing is often what’s needed as first step.
17 hrs
neutral AllegroTrans : But the "bien" (which we now know to be a building) seems to me to be the object of the verb (mise)
18 hrs
agree writeaway : certainly works in the context I currently have
2082 days
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+2
1 day 23 hrs

transfer to company ownership

Does "mise en société" imply the creation of a new company (SCI or other) or does it also cover the transfer of property to an existing company?
Peer comment(s):

agree GILLES MEUNIER
14 hrs
agree AllegroTrans
23 hrs
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