Italy has a diversified industrial economy.The country is divided into a developed industrial north, dominated by private companies, and a less-developed, agricultural south.The most developed sectors of Italian industry include:
engineering industry (machinery construction);metallurgy;chemical industry;petrochemical industry;light industry;food industry.
The crop sector is predominant in Italian agriculture.A significant contribution to national wealth is generated by products 'made in Italy'.The production of the following produces are wide spread in Italy: wheat, maize, rice, sugar beat, citrus plants, tomatoes, grapes, olives.The tourism is high-developed in Italy as well. According to the statistics data more than 50 million people visit it every year.Italy belongs to the Group-of-Eight (G8) industrial nations, the European Union (EU), and the Organisation for Economic Cooperation and Development (OECD).One salient feature of the Italian economy is its propensity toward entrepreneurship - seen in the very high number of small and medium-sized businesses: 98% of the over 4 million companies employ fewer than 19 persons (the average is 4 employees per company).GDP per capita rank is 45 (est. 2011).The unemployment rank in Italy is 10.7 % (est. July, 2012).
The legal system of Italy is referred to Continental/Civil Law.
Italian law is based on:
Roman Law (particularly its civil law);
French Napoleonic Law (itself based on the Roman model).
One of the important distinctive features of Italian legal system is the presence of Codes systematized the separate branches of law.
Besides the Codes, there are innumerable Statutes that integrate the Codes and regulate areas of law for which no Codes exist.
Basic provisions on companies are established by Civil Code (Fifth Book – V title).
There are two groups of Companies in Italy:
Corporations (Capital Companies):Società a Responsabilità Limitata, S.R.L.
– Limited Liability Company;
Società per Azioni, S.p.A.
– Joint Stock company;
Società in Accomandita Per Azioni, S.A.P.A.
– Limited Partnership Constituted by the Issue of Shares;
Società a Responsabilità Limitata Semplificata, S.R.L.S.
– Simplified Limited Company;
Partnerships:Società in Accomandita Semplice, S.A.S.
– Limited Partnership;
Società in Nome Collectivo, S.N.C.
– Unlimited partnership;
Società Semplice, S.S.
– if the activity is not classified as a business.
S.R.L. is the most popular type of company in Italy because it fits to small and medium enterprises.