LIMITED LIABILITY COMPANY REGULATION AS A LEGAL SUBJECT IN THE LEGAL SYSTEM IN INDONESIA (A STUDY RESPONDING TO THE DEVELOPMENT OF INDIVIDUAL COMPANY FORMATION IN INDONESIA)

Abstract

The Job Creation Law has changed the concept of limited liability companies; on the one hand, it is a development, but on the other hand, it is an advancement of corporate law in Indonesia. The establishment of corporate entities has been renewed in conjunction with the issuance of the Job Creation Law. The change referred to in the Job Creation Law is the formation of Individual Companies. Individual companies are a development and at the same time the latest advancement in the concept of limited liability companies in Indonesia, which have different characteristics compared to the limited liability companies that have been known so far. This paper discusses the development of corporate law in Indonesia, especially limited liability companies, with the establishment of individual companies as legal subjects in the Indonesian legal system.