THE CHAMBER OF COMMERCE City Government of Monserans The Chamber of Commerce at Monserans is the premier organisation of businesses operating in the Republique Serazinist de Serenierre. Established in 1876, the Chamber of Commerce has been at the forefront of the Serenien economy since its establishment. Successive Serenien governments, both, Royalist and Serazinist have worked closely with the organisation to help the Serenien economy grow. Ever since the establishment of state capitalism under the auspices of the Marxist-Serazinist ideology, the Chamber of Commerce has worked to enhance the role of enterprise and businesses across the country. The Chamber of Commerce is a valuable venue wherein all sorts of Serenien companies cooperate and focus on the task of raising Serenien economic standards. Under Directive 24 (Companies Regulation) of 1937 , there are three types of companies in existence in Serenierre. First, there are state owned enterprises; second, there are state capitalist enterprises, and third, there are private companies. The distinction between these three forms of companies is an essential aspect of Serenien business law. 1. State owned companies By their title, it is clear to see that state owned companies (SO) are owned entirely by the Government and are usually found in the traditional sectors, such as mining and heavy industry. The state owned entities are primarily designed to tackle large scale operations for which only the State has the resources to manage the risk. These companies form 5% of all business entities in the country. Under current policies, 10% of its shares are allowed to be traded publicly on the stock exchange. 2. State capitalist companies The unique creation of Serenien law, a state capitalist company (SCL) are established by individual commissariats in the Government. Each ministerial commissariat is encouraged to operate a lucrative portfolio of such companies. In practice, the commissariat which establishes such a company becomes the 60% shareowner and the remainder shares are floated on the openmarket. Unlike state-owned companies, SCL's are highly competitive and are driven to raise profits for its shareholders. As the ministerial commissariats are majority stakeholders, their stake of the profit is deposited into the accounts of the Government -- which uses the finances to invest in the welfare system. The remainder 40% of the stocks in such companies are often owned by the staff and the corporate culture in such companies is worker oriented. However, unlike state owned companies, SCL companies cannot rely on the Government to bail them out if the situation turns dire for them. The SLC model dominates much of the secondary sector of the economy and is noted for its increased competitive and modernised approach. Often, many worker driven innovations have resulted in many profitable ventures and the SLC model is recognized as a hallmark of the Serenien economic model. 3. Private companies These are owned by private citizens and may be listed on the stock market or be held privately. These companies are similar to those found in other economies and are dominant in the tertiary sector of the economy and by far are the largest type of company in Serenierre. Many renowned fashion houses, publishing companies, and holdings companies are established under this model. Despite the lack of a connection to the Government, these companies are well protected from any unfair practice by the Competition Commission which is an important regulator preventing state monopoly. 4. Important authorities The Competition Commission -- Responsible for ensuring no abuses of market or dominant positions occur, specifically with respect to overreach by state capitalist or state owned companies against private or foreign entities operating in Serenierre. The State Bank of Serenierre -- The central bank of the country which established macroeconomic policy The Mercantile and Commercial Court-- The primary adjudication forum for businesses of all sorts. This Council has two tiers and is the preferred venue for dispute resolution.