Foris AG
| FORIS AG
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | DE0005775803 |
| founding | 1996 |
| Seat |
Bonn , Germany
|
| management |
|
| Number of employees | 35 |
| sales | € 22 million (2019) |
| Branch | Financial services |
| Website | www.foris.com |
| As of December 31, 2019 | |
The Foris AG is a German publicly traded company based in Bonn District Federal District . It was founded in 1996 and introduced commercial litigation cost financing in Germany in 1998 .
Company history and structure
Litigation cost financing
Foris has been offering litigation cost financing since 1998 and was the first company to take on the full litigation risk of a plaintiff. Financing was initially provided from an amount in dispute of DM 100,000 with a profit-sharing rate of 50%. The amount in dispute is currently at a minimum of 100,000 euros. The profit-sharing rate varies from case to case and depends on the legal and economic risk involved.
On July 20, 1999, the shares of Foris AG, then based in Berlin and Bonn and previously issued by way of a private placement , were listed on the German stock exchange in Frankfurt (FRS WKN 577580). On August 24, 2009 Foris AG moved into the NRW-Mix 50 share index of the Düsseldorf Stock Exchange.
In addition to the financing of litigation costs, Foris initiated a project to record and publish lawyers and law firms as an additional service. According to the company, the Foris lawyer directory has grown into one of the largest lawyers directories in Germany and enables specialist and location-specific online searches for lawyers in around 58,000 entries.
After co-founder Müller-Güldemeister left the board in 2002, the company gave up its Berlin location and has since been headquartered in Bonn in the building of the former Hamburg state representative in Bonn's government district.
The subsidiary Foris Institut GmbH, which has since been merged, offered numerous other services, particularly for lawyers. Foris lingua (Foris translation service until March 2010) emerged from these offers. This division is based on a network of translators consisting of more than 500 specialist translators who work worldwide. Translations are primarily made in the fields of business and law into and from all European and numerous non-European languages. In 2009, 36 different language combinations were processed.
Brand migration and realignment
As part of the brand migration and realignment of products and services on July 18, 2016, the translation service (Foris lingua) was discontinued or sold as part of an asset deal. Since then, the products and services have been marketed under a newly designed brand with a new corporate design. Since then, its products and services have included litigation financing, monetization and shelf companies.
Shelf companies
Foris has founded and sold stock companies in the form of shelf companies since 2000 . The growth in this business area led to the establishment of our own subsidiary, Foratis AG, in 2001, whose brand migration service has been provided by Foris Gründungs GmbH, a Foris subsidiary, since July 18, 2016. Initially only German companies ( GmbH , GmbH & Co. KG , AG ) were offered. The portfolio of legal forms offered has grown over the years and also includes foreign company forms such as B. the SE - Societas Europaea , the Luxembourg SARL , the Austrian GesmbH or British company forms such as the Ltd.
go ahead
In the area of shelf companies, on October 1, 2006, the acquisition of Go Ahead Ltd. a significant expansion of the offer. Go Ahead Ltd. was founded by Michael Silberberger at the beginning of 2003 and in three years had secured a substantial market share in Germany in the establishment and sale of limited companies. According to its own information, Go Ahead founded the 40,000th limited company in 2011, now as a Foris subsidiary. Since 2009, Go Ahead has also been helping with the formation formalities for the company (limited liability). Go Ahead also offers start-up services and tools on your website, such as: B. the SmartBusinessPlan .
Monetization
Foris has been offering the monetization of disputed claims since July 18, 2016. It put the focus of its further development back on its origins and thus became the world's first litigation cost financer, giving companies the option of liquidating (= cash inflow) a disputed claim before the start of the legal dispute or at any time afterwards enables. Many companies, especially small or with a low equity ratio, have no way of enforcing their legitimate claims in disputes with large and liquid companies due to the economic imbalance and, due to this weak negotiating position, accept high discounts on their claims.
Case management by Foris is part of monetization, i. H. The vast majority of communication with lawyers and courts is handled by Foris for the company.
property
Foris rents the 1000 m² office building completed in 2011 on a neighboring property through its subsidiary Foris Vermögensverwaltungs AG .
literature
- Lothar Müller-Güldemeister, Christian Rollmann: The litigation financing of Foris AG is not an insurance , NJW 1999, p. 3540.
- Dagobert Nitzsche: Selected legal and practical problems of commercial litigation cost financing with special consideration of insolvency law , dissertation 2002, Munich, ISBN 3-8316-0236-0 ( as PDF , 970 kB), with information on the origin and initial development of Foris AG (p 204).
- Lothar Müller-Güldemeister: The law and its price - The Foris case. A factual report , 2005, Göttingen, ISBN 3-9808662-2-X .
Individual evidence
- ↑ a b Annual Report 2019
- ↑ Master data and shares of FORIS AG on the website of the Frankfurt Stock Exchange
- ↑ Foris wants to pay dividends for the first time. From: Generalanzeiger, Bonn, from October 24, 2009.
- ↑ Martin Gerth, Niklas Hoyer: More beautiful complaints: That costs your rights. Retrieved April 18, 2019 .
- ↑ foris.com/impressum. Retrieved April 18, 2019 .
- ^ A lawyers' group with its own bus stop . From General-Anzeiger , Bonn, May 24, 2003.
- ↑ Foris AG: FORIS takes over Ltd. provider Go Ahead. (No longer available online.) October 20, 2006, archived from the original on July 29, 2014 ; Retrieved November 10, 2010 .
- ↑ a b Start your foundation today with the GO AHEAD start-up academy. Retrieved April 18, 2019 (German).
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Coordinates: 50 ° 42 '58.2 " N , 7 ° 7' 39.4" E