The Charter in the Legal System of Entrepreneurs
The charter is the centre of the founding documentation of an entrepreneurial society and is regulated by the Georgian law on entrepreneurial societies. To establish a society, a founding agreement is required: it is made in written form and signed by all founding partners; the signature is certified notarially, unless it has been certified in the established manner by the National Agency of the Public Registry or another person authorized by the agency, or executed in accordance with the law on electronic documents and trusted electronic services. A power of representation requires notarial certification or execution of the signature under that electronic law.
The practical significance is that a breach of form at establishment or amendment becomes an obstacle to registration: at best it costs time, at worst it raises the question of the binding force of the transaction. This is why a charter project should be built around the requirements of the law from the very beginning.