Representation of Employer / Employee in Lithuania

Employers and employees may acquire, change, waive or defend labour rights through the entities representing them. Employees and employers may be represented both in collective and individual labour relations. Representation in collective labour relations based on the effective labour laws shall occur without the expression of will of an individual employee provided that such entity or person are representative of the will of the majority of the employees. Joint obligations assumed during such representation are binding on all employees who fall…

Labor Law

Labor legal relationships – specific social relationships for which subordination is typical. Subjects of such relationships are employer and employee, as well as organizations representing employees and employers. Full legal capacity occurs when a person is sixteen years old. Exceptions are set by Labor code and other related laws. Employer’s legal capacity arises from the moment of their creation. Employers gain labor rights and take the job responsibilities, as well as implement them through their bodies and administration. These organs…

Buying and selling of the shares

Shares are securities confirming the right of their owner (shareholder) to share in the management of the company, unless otherwise provided by law, the right to receive divided, the right to a portion of company’s assets remaining after the liquidation and other statutory rights. Transfer of Shares. Certificated shares or share certificates shall be transferred into the ownership of other persons by making a relevant entry in the share or in the share certificate, i.e. the endorsement. The endorsement shall…