Startup Formation: Which Law and Which Form
The formation and structuring of a startup is governed by the Georgian law on entrepreneurs. Its very first article describes the scope and the dispositive principle: it regulates the legal forms of the entrepreneur and the procedures of formation and registration. A general partnership, limited partnership, limited liability company or cooperative may define rules differing from the law in its charter or a partners’ agreement, save where a norm is imperative; in a joint-stock company deviation is possible only within the limits allowed by law.
This last difference matters for a startup: the room for flexible structuring begins with the choice of form, and the joint-stock form leaves the least freedom.